Regina Market Stats

How do the numbers look throughout the various neighbourhoods in Regina? Make an informed decision when pricing your home or choosing where to make an offer.

Found 13 blog entries about Regina Market Stats.

June 2022 – Saskatchewan and Regina & Area Market Statistics

 

In comparison to last year’s levels, June sales have eased. “While sales have been trending down in the province this year, we cannot lose sight of the fact that sales levels are still amongst the highest levels ever recorded in our market and these higher relative levels are still being achieved despite the sharp rise in lending rates,” comments Chris Guérette, CEO of the Association.

As for the New Listings numbers, compared to last year, they have risen almost 9% which has helped support some monthly gains in inventory levels.  Even with 6,893 units in inventory, supply levels are still 27% lower than the 10-year average and is one of the lowest levels reported for June.

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Similar to the month of April, sales in May have increased compared to the start of the year. Although sales have increased since the beginning of 2022, compared to last May’s sales of 1,853, this May’s sales were 1,814, dropping by 1.8%. Since the beginning of the year, sales in Saskatchewan totaling 6,682, have dropped 11% compared to last year’s January-May sales, but the long-term trend which is the compiled 10-year average from the current year to 10 years from now is more than 27% higher.

According to Chris Guérette, CEO of Saskatchewan REALTORS® Association, “While demand for homes in Saskatchewan has remained relatively strong so far this year, we did not go through the same early demand surge as some markets. In fact, our market is

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Throughout Saskatchewan, housing sales have slowed 11% compared to record highs set last April. Although sales have been slower in the first four months of the year, it is important to note that the 4,873 sales are 30% higher than longer-term trends. According to SRA CEO, Chris Guérette, “While rising lending rates are likely contributing to some of the pullback in sales, another challenge limiting sales has been the drop in supply choice, especially in the larger markets of the province.”

April’s New Listings were 18% lower than last year’s levels and Inventory levels are 20% lower than last April and over 30% below the long-term trends. The Months of Supply remain below four months and as Guérette stated, “The Months of Supply number is an

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While Sales in Saskatchewan declined 8% compared to last year’s numbers, it is important to remember that the housing demand proves to be resilient. Levels are 22% higher than what we were used to seeing at the start of the year and nearly 40% higher than the average levels recorded throughout the 2015-2020 time frame.

With Sales dropping, so have New Listings, by almost 7% compared to last year and 14.6% since the beginning of 2022. This could be attributed to the significant 11.1% drop in inventory along with the 10-year average spread dropping an astonishing 25.3%. Chris Guérette, Saskatchewan REALTORS® Association’s CEO states, “Last month, we started to raise an alarm bell about inventory levels in Saskatchewan,’... ‘Now that we’re two months

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As the first month of the New Year comes to an end, we are able to get a better look at how Saskatchewan’s housing market is fairing with low inventory. January inventory levels are the lowest they have been since 2012. Saskatchewan Realtors® Association’s CEO, Chris Guérette, states that if the number of New Listings continues to improve relative to Sales, it should eventually translate into improved supply and a healthier market balance.

Although Sales have dropped by 18.3% to 748, compared to last January, everything is relative as the price compared to last January has risen 7.0% to $285,700. The biggest worry for Saskatchewan’s Housing Market will be the consistent drop in Inventory as even the 10-Year Average Spread has dropped a significant

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Saskatchewan had an incredible housing market boom in 2021, setting a housing sales record of 17,387 homes sold. This new record has surpassed the previous record set in 2007 by 17%.

Although the amount of new listings in Saskatchewan did improve in 2021, the inventory of homes dropped significantly throughout the province by almost 17%. With inventory numbers reduced and a coinciding strong demand, this ensured that the market favoured the seller. With these changes came the almost 8% rise of the benchmark price to $284,200. Granted, there was also a large variation of property types and location, from single family homes that were only 1% below previous highs, to condominium’s that remain 17% below the notorious highs of 2014.

Despite the

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Saskatchewan sales soared in November rising 26.4% since last November and since the beginning of the year to 1,361. Not only did November set a new record high for sales but the long term averages grew over 50%. The province is on track to reach record high sales this year. With that being said, Saskatchewan REALTORS® Association CEO Chris Guérette states why she believes the rise in sales - “Concerns over inflation have left many anticipating that rates will rise earlier than expected in 2022. This has likely supported the recent shift in sales as buyers want to get ahead of any rate gains.”

With the number of Sales rising up to 1,361 but the New Listings totaling 1,521 units, the Sales-to-New- Listings ratio has risen to nearly 90% which is the

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According to Chris Guérette - Saskatchewan REALTORS® Association CEO, “One of the single greatest issues the Canadian real estate market faces - including Saskatchewan - is the declining levels of house supply. The seasonally-adjusted number of residential properties, remaining for sale on MLS® System of Canadian real estate boards and associations, is close to falling below the 100,000 mark for the first time on record. Six years ago, that number was a quarter of a million.”

Although Saskatchewan’s new listings and sales numbers have decreased, Saskatchewanians continue to purchase homes, given lending rates are as low as 2.5%. Despite low lending rates, sales in Saskatchewan have pulled back to 1306, which compared to last year, dropped by 4.2%

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Starting off with Saskatchewan as a whole: sales have slowed relative to last year’s record highs, however, to no surprise, have remained well above the long-term trends. With changes in both sales and supply levels, conditions have remained unchanged as the sales-to-new listings ratio remained over 60% and the months of supply stayed above five months.

While the sales have slowed, the market is indicating more of a balance between supply and demand compared to levels in the spring. Although the market favors towards the seller, the recent shift towards a more balanced market is taking pressure off of prices. Throughout Saskatchewan, benchmark home prices have eased over the past few months, but still remain well above last year’s levels. Since the

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Autumn Leaves Header

 

We’re back! Here’s the latest on the housing market in Saskatchewan, Regina and Region!

Saskatchewan Sales have increased by 36.4% since the beginning of 2021, are sitting at 1,393, with a marked decrease (11.3%) from last August. Of consequence, August, 2020 had sales that hit a new record high which explains the 11.3% decrease year-to-date. According to Saskatchewan REALTORS Association CEO, Chris Guérette, “… It is important to note that sales are still at levels that are far better than what were seen in August prior to the pandemic”. Sales of all property types on a year-to-date basis have Saskatchewan currently at a new record high!

Similar trends in New Listings: Since the beginning of the year, August has risen by 11.5% to 2,379

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