In its latest monthly report, the Association of Regina Realtors reported that there were 309 homes sold in the Regina area in October. This figure is down 3% from October 2012 when 318 homes sales were reported.
Year-to-date, 3,266 homes have been sold in the Regina area, down 9% from the first 10 months of 2012 when 3,576 sales were reported. In the city, there have been 2,661 sales, down 6% from the 2,824 homes sold in 2012.
The average sale price in the Regina area for the month was $316,810, a new high and an increase of 7% from the $296,469 in October 2012. In the city, the average was $321,297, an increase of 4% from $307,554 in the same period last year 2012.
The increase in average sale price is entirely attributable to a relative larger proportion of higher-priced homes selling, rather than an across-the-board increase in values.
The ratio of sales to new listings for the month was 56% in the city and 55% in the Regina area, indicating balanced market conditions.