Courtesy of Penny Milton
Supply Levels Remain Low Causing Continued Price Increases
AVERAGE SALE PRICES
$330,061 residential NO CHANGE year-to-year
404 PROPERTY SALES
64% SALES TO NEW LISTING RATIO
2.96 MONTHS OF INVENTORY
1,197 ACTIVE LISTINGS
636 NEW LISTINGS
REGINA, April 4, 2022 - Sales in the city slowed compared to last year’s record pace, but with 351 sales in the month, levels are still amongst the strongest March activity recorded in the city. Like other areas, new listings did rise compared to levels seen over the past seven months. This helped support modest gains in inventory compared to the last four months. However, with 982 units in inventory, this was nine per cent lower than levels recorded last year. Regina did not have the same inventory struggles last year, but this recent shift does put inventory levels over 12 per cent below long-term trends.
The strong sales compared to inventory levels did cause the months of supply to fall below three months, the first time it has done that since October 2012. While the tighter conditions have had some impact on prices in the market, if the market still is this tight, we could see added pressure on home prices in the coming months. In March, the benchmark price rose to $264,000, nearly two per cent higher than last year and one per cent higher than last month. Statistics reflect market activity in March 2022 | Source: Saskachewan REALTORS ® Association Market values stated are of the average of Regina and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to- date evaluation of your home.
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