Regina housing market stumbles in May
The number of sales through the Regina and area MLSÂ System for all geographic areas in May was up from one year ago while previous highs fell in many key measurement areas, said the Association of Regina REALTORSÂ Inc.
There were 401 sales reported during the month, up 11 per cent from 2010 when 360 sales were recorded. This is the first time that sales have surpassed the 400 mark since July 2009 and marks the second highest ever for the month, only behind May of 2007 when 494 sales took place. There were 348 sales in the city, an increase of 14 per cent over 2010 when 306 sales were posted. For the year-to-date, 1,516 sales have occurred, down two per cent from last year`s 1,542 sales. In the city, 1,319 sales have been reported, a drop of one per cent from 1,333 in 2010.
May`s average price of $296,838 set a new high for any month in the history of the Association`s MLSÂ System and was up 18 per cent over 2010`s $250,852. In the city, the average price broke the $300,000 mark for the first time ever, coming in at $304,370 - up 19 per cent from 2010`s $255,744. For the year-to-date in all geographic areas, a new high of $276,962 was set ` an increase of nine per cent over $253,458 in 2010. The city`s year-to-date average price was $282,547, up 10 per cent from last year`s $256,782 and also a new high for the period.
Read the full article
here.