Regina's Market Still Very Active while Inventory Rises
There continues to be an elevated number of listings in the city giving buyers plenty of options in all price ranges and locations. There were 1,393 homes listed at the end of the April, an increase of 15% from the 1,215 last year and up 74% from 803 in 2013.
In April, the MLS® Home Price Index, which is a more accurate measure of housing price trends than the average sale price, reported a composite index level of 269.3 and residential price of $283,800 for the city. This is down 3.7% from last year's levels of 279.3 and $294,300.This indicates that residential selling prices have fallen in the Regina market over the past year. It also shows selling prices as being down 2.1% over the past three year period.
The elevated supply of homes for sale has led to downward pressure on prices and extended periods of time for homes to sell. Sellers are advised to take the advise of their real estate professional and set their asking price to reflect current conditions.
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