In Regina and surrounding areas, there were 1,526 active listings on the market at the end of February, up 25% over 2013's 1,210. There were 924 homes for sale in the city, an increase of 39% from last year's 664. With this in mind, sellers are advised to set their asking price according to these market conditions, otherwise the property may not attract showings or offers.
There were 214 sales reported in Regina and surrounding area in February. This is a decrease of 2% from 2013 when 219 sales occurred. This compares to the five-year average of 250 and the ten-year average of 236 sales for the month as reported by the Association of Regina REALTORS® Inc.
Statistics for February 2014 compared to February 2013:
- Average sale price in Regina and area including bedroom communities:
- down 2% - from $308,980 to $301,525
- Average sale price in the city:
- down 2% - from $315,451 to $307,720
For year-to-date there have been 382 sales recorded, down 5% from 2013's 400. The year-to-date average price to the end of February was $305,122, slightly above last year's $304,850.
During February, homes which sold were on the market for an average of 44 days before selling at an average of 97.3% of the asking price. This compares to 38 days and the same 97.3% in 2013.
This has been the coldest winter in 35 years and spring is just around the corner which means the market will become very busy. As a CENTURY 21 Dome Realty sales professionals, I am uniquely trained and qualified to help home buyers navigate the opportunities that exist in the local real estate market and provide sellers with excellent marketing and exposure for their properties.