There were 1,671 homes listed for sale in the Regina area at the end of January, up 21% over 1,379 in 2014. There were 1,016 homes listed in the city - an increase of 22% from 833 last year and up 82% from 558 in 2013. The number of listings is continuing at 20-year plus highs and is having a significant impact on the market, according to the Association of Regina REALTORS® Inc.
Pricing your home correctly is critical for a successful sale in today's market. Please feel free to contact one of our sales professionals - they have the information and expertise to determine the fair market value for your home.
There were 540 new listings placed on the MLS® System during the month in all geographical areas, virtually on par with 2014 when 538 were posted. In the city 391 were reported, down 8% from 427 in 2014.
For January, the MLS® Home Price Index (HPI) - a much more accurate indicator of housing price trends than the average reported a composite residential price of $281,500, down 4.1% from last year’s levels of $293,500, indicating that residential property values have actually declined in Regina over the past year.
In Regina and area. there were 163 sales reported in the month including bedroom communities, down 2% from 2014 when 167 sales were reported. There were 135 sales in the city, a decrease of 5% from 2014s 142 sales.
Sales activity and supply levels in January are both indicators of 2014 market conditions carrying over into 2015. We are optimistic about the year provided that the economy performs well, creates jobs and attracts newcomers into the area.