Based on reports through the Association of Regina REALTORS® MLS® System, many key records indicate that we are experiencing a very active real estate market.
Statistics for April 2012 compared to April 2011:
Regina (within city limits):
- Sales were up 17% - from 299 to 351
- Average sale price was up 17% - from $274,626 to $320,123
- Homes sold in an average of 23 days at an average of 98.4% of asking price
- Active Listings in the city at the end of April – 557, approximately 130 already conditionally sold
Regina and area:
- Sales were up 24% - from 356 to 443
- Average sale price was up 17% - from $267,047 to $312,873
- Homes sold in an average of 31 days at an average of 97.8% of asking price
- Active Listings at the end of April - 1,218
- New listings in April were down 6% - from 662 to 624
Overall, market activity continued to reflect a very high level of demand for housing and more sales are taking place in the higher price ranges. With a short supply situation in the city and some listings selling at or above listing price, pushed the average price past the $300,000 mark for the first time ever.
At the end of April there was only one month’s supply of unsold listings on the market with an average asking price in the $370,000 range. Normally there would be at least two or three months of supply at this time of year. More new listings are needed to keep up with the high number of buyers looking for a place to call home.