Regina market moderates in August

During the month, residential sales were down while the number of active listings for sale in the city continued at elevated levels, according to the Association of Regina Realtors®

There were 330 residential sales reported in all geographic areas, down 2% from 2014 when 336 sales were reported. Single detached home sales were up 1% - while other types of housing sales, mostly condominiums, were down 8%. There were 258 sales reported in the city, a decrease of 2% from 2014 when 263 sales occurred.

For August, the MLS® Home Price Index (HPI), reported a composite index level of 264.9 and residential price of $279,200 for the city. These are down 3.5% from last years levels of 274.6 and $289,400. This indicates that residential selling prices have fallen on the Regina market over the past year. The HPI also shows selling prices as being down 6.4% over the past three year period. The HPI is a much more accurate measure of housing price trends than the average price.

In August, there were 450 new listings in the city placed on the MLS® System, down 12% from 513 in 2014.  At the end of the month there were 1,369 homes for sale, a decrease of 4% from last year’s 1,433 and the lowest since March of this year.

Sellers are reminded that because buyers have many options the most important factor in selling a property is setting a realistic asking price which takes these market conditions into account.

 

 

Karol Schram

Karol Schram

Sales Representative
CENTURY 21 Dome Realty Inc.
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