We are now entering the busy second quarter of the year when there are typically more buyers looking for homes with mid-year possession dates. There continues to be an elevated number of listings in the city giving buyers plenty of options in all price ranges and locations.
In March, 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 267.8 and residential price of $282,200 for the city. This is down 4% from last year's levels of 279.0 and $294,000.This indicates that residential selling prices have fallen in the Regina market over the past year, according to reports by the Association of Regina REALTORS®.
Statistics for March 2015 compared to March 2014:
Regina (within city limits):
- Sales were down 2% - from 222 to 217
- Average sale price was down 10% - from $342,522 to $307,674
- New Listings placed on the market up 7% from - 515 to 550
- Active Listings in the city (YTD) at the end of March, an increase of 17% - from 1099 to 1242
Regina and area:
- Sales were up 1% - from 270 to 274
- Average sale price was down 9% - from $329,478 to $300,148
The increased supply of listings plus with the strong local economic activity, job and population growth, provides the components for a strong, healthy spring market.
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