During the month of November there were 228 sales in the Regina area which includes bedroom communities like White City, Pilot Butte and Emerald Park. This is 27% down from the record high of 312 recorded a year ago. There were 194 sales in the city, a decrease of 25% from 2011 when 258 properties sold. Year-to-date, there have been 3,743 sales, an increase of 2% from 2011's 3,684. according to the Association of Regina REALTORS® Inc.
The average sale price in all areas of $309,219 was up 13% from 2011's $272,758, while setting a new high in November. The average price in the city was $318,519, up 12% from $285,258 in the same month last year.
During the month, homes sold in all areas were on the market for an average of 38 days before selling at an average of 97.1% of the asking price. This compares to 48 days and 96.3% in 2011. The average in the city for November was 33 days and 97.5% of asking price.
In Regina and area there were 1,153 active listings on the market at the end of November, including 620 in the city. There were 360 new listings during the month, an increase of 5% from 344 in 2011.
"It seems that the combination of the normal seasonal decrease in sales and difficult weather conditions for much of the month had a dampening effect on the market. With one month to go in the year, and despite a slow-down in the second half of the year, we are anticipating that 2012 will be one of the best years ever through the MLS® System," said Gord Archibald, Executive Officer of the Association of Regina REALTORS® Inc.
If you want to know more about the real estate market in your neighbourhood or are thinking about buying or selling your home, please visit my website.