After several months of sales activity being below historical levels, sales really took off in June. In Regina and area, residential sales were well above 2014 while the level of listings for sale in the city continued at 25 year highs, according to the Association of Regina Realtors®.
Last month, 433 home sales occurred in Regina and area, up 21% from 357 sales in June 2014. It marks the second-highest number of sales for June (behind 453 in 2007) and the largest number of sales for any month since May 2012.
The MLS® Home Price Index (HPI), reported a composite index level of 258.2 and residential price of $282,700 for the city. These are down 3.4% from last years levels of 277.7 and $292,700. This indicates that residential selling prices have fallen in the Regina market over the past year. The HPI also shows selling prices as being down 5.0% over the past 3-year period. The HPI is a much more accurate measure of housing price trends than average price.
In June, there were 587 new listings in the city placed on the MLS® System, up 1% from 583 in 2014. At the end of the month there were 1,599 homes for sale, an increase of 5% from last years 1,431.