What has been happening in the Regina and Region Real Estate Market? Here is a brief look at what happened in December, 2020.

 

The end of 2020 was much anticipated. At Tourney Group, we celebrated the holiday and end of the year with our Zoom call office Christmas party. This is very different from a typical year for us but it was still a fun evening with good conversation and holiday cheer nonetheless. With the increased restrictions in the province brought on by the rise in COVID cases, we are continuing to employ safety protocols and practices to ensure the safety of our clients, the general public, and ourselves. We are positive that things will be looking up in 2021!

Overall, December 2020 was a strong month for real

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What has been happening in the Regina and Region Real Estate Market? Here is a brief look at what happened in November, 2020.

 

The rise in COVID cases throughout the province and subsequent increased restrictions have not turned people away from buying and selling real estate. If anything, these restrictions have allowed people to feel more comfortable in buying and selling. The Tourney Group is continuing to look after all of our clients' health and safety. We are wearing masks at all times, limiting the number of people that are in a property at any given time and are not providing in-person public open houses. We are instead continuing to opt for our virtual open houses that are hosted on our Facebook page. With this in mind,

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What has been happening in the Regina Real Estate Market? Here is a brief look at what happened in October.

 

In the Regina and area MLS® System there were 256 reported sales which is up from 255 reported sales in 2018.  In Regina the 5 year average is 274 sales and the 10 year average is 291 sales.   Regina also saw 482 new listings which is 10.2% lower than the 537 new listings in October of 2018.  As of the end of October there were 1395 active residential listings for sale in Regina. 

 

 

 

We often get asked if we are in a buyer’s market or a seller’s market.  Balanced market conditions will see the ratio of sales to new listings sit around the 40-60% range. Below 40% would be considered a buyer’s market and over 60%…

 

What has been happening in the Regina Real Estate Market? Here is a brief look at what happened in September.

  In the Regina and area MLS® System there were 252 reports sales which is up from 195 reported sales in 2018.  Regina also saw 369 new listings and this gives us roughly 5.6 months of inventory.   We often get asked how long we think it will take to sell.  In September the average days on market was 65 which is up from 62 days in 2018, and 55 days in 2017.         In order to look at market trends over time we use a tool called the MLS® Home Price Index (HPI) which is more effective then using average or median prices.    A mean average is the average price obtained by dividing the total dollar volume…