During the month, residential sales were down from 2014 but in line with historical levels, while the number of active listings for sale in the city continued at elevated levels, according to the Association of Regina Realtors®.
There were 317 residential sales reported in all geographic areas, down 14% from 2014 when 386 sales were reported. Single family detached home sales were down 13% - while other types of housing sales, mostly condominiums, were down 16%. There were 254 sales reported in the city, a decrease of 11% from 2014 when 286 sales occurred.
For September, the MLS® Home Price Index (HPI), reported a composite index level of 262.5 and residential price of $276,600 for the city. These are down 4.1% from last years levels of 274.6 and $288,500. 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 7.3% over the past three year period. The HPI is a much more accurate measure of housing price trends than the average price.
In the city there were 516 new listings in the city placed on the MLS® System, down 8% from 562 in 2014. At the end of the month there were 1,359 homes for sale, up slightly from last year’s 1,349 and the lowest since March of this year.
Despite being down from an exceptional September last year, the number of sales was actually good and in line with historical levels for the month. Elevated supply levels in the city are continuing to provide buyers with a great deal of choice in most areas and price ranges. As we enter the final quarter of the year, market conditions are not expected to change significantly.