Regina and area home sales through the Regina and area Multiple Listing Service System in January have topped 2009 levels. .
For the entire MLS® System including all geographic areas there were 183 residential sales recorded. In the city there were 154 residential sales.
The average price of residential properties sold inside the city was $238,589, up 12%from 2009’s $213,167.
Homes sold in January were on the market for an average of 49 days before selling compared to 52 in December of 2009. Homes sold at an average of 96.6% of asking price.
For the entire system including all geographic areas there were 980 active listings on the market at month end including 580 in the city. There were 346 new listings received during the month.
Starting the year off, we really need to keep our eye on a potential supply shortage. Looking ahead with the decrease in new listings in January and assuming demand remains strong, there may not be sufficient supply to fully satisfy that demand in upcoming months. This is particularly the case in the city where vast majority of home sales will take place. This has some potential for upward pressure on prices.
