January was hot in more ways than one
The temperature wasn't the only thing above normal in January, as home sales and prices were at or near record highs in a month that is normally quiet.
The Association of Regina REALTORS® MLS® System reported 249 sales during the month which is 14% higher than January 2011. Sales were well above the 5-year average of 198 and the 10-year average of 175 sales for month of January.
The average sale price in the Regina area was $284,744, which is 10% higher than a year ago. This includes the bedroom communities like White City and Pilot Butte. The average sale price in the city of Regina was $288,497, which is also a high for January.
There is good news for buyers with 431 new listings placed on the MLS® system in January. This brings the number of active listings at the end of January to 988. This should help alleviate a potential supply shortage and give buyers more to choose from.
The activity in January is a continuation of the buoyant real estate market in 2011 and is expected to continue in 2012.
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Posted by Lane Boghean
on February 21, 2012