Residential sales through the Regina and area Multiple Listing Service System in August exceeded 2008 levels for the fourth consecutive month while setting new highs in some key measurement categories.
There were 312 residential properties sold inside the city, up 46% from 2008.
Year-to-date 2,294 homes have sold in the city.
The average price of residential properties sold inside the city was $245,432; with the year-to-date average price was $246,417.
Homes that sold in the city during August were on the market for an average of 45 days before selling, an increase from 40 days in July. Homes sold at an average of 95.2% of asking price.
Inside the city there were 892 active residential listings on the system at the end of the month. This marks the lowest number of active listings so far this year.
We’re now beginning to see a significant tightening up in supply inside the city. The combination of a high number of sales and decreasing number of new listings is causing a decline in the number active listings on the market. It’s now at the lowest level since December of last year. This could be a potential signal of some upward pressure on prices provided that demand levels continue to be strong.
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