Home sales in the Regina area in April were the lowest for that month in the last 10 years, but up slightly inside city limits, according to the Association of Regina Realtors.
There were 309 sales reported last month in the Regina area, including bedroom communities, down five per cent from 325 sales in April 2015 and below both the immediate past five-year average of 371 and 10-year average of 362.
While area sales were the lowest in the past 10 years, there were 263 sales reported in the city, up four per cent from 252 in April 2015. And for the year to date, 966 sales were posted in the Regina area, up three per cent over 942 during the first four months of last year.
The average sales price in the Regina in April was $317,098, a six per cent decrease from $336,105 in 2015. The average in the city was $319,589, also down six per cent from $338,863 last year.
In the city, there were 1,207 homes for sale at the end of the month, a decrease of 13 per cent from 1,393 last year. About 25 per cent of active listings in the city are condos.
There were 790 new listings placed on the multiple listing service (MLS) during the month in the Regina area, down nine per cent from 871 in 2015. In the city, 492 listings were added, down 19 per cent from 605 in 2015.
The ratio of firm sales to new listings for the month was 53 per cent in the city and 39 per cent in the Regina area. Balanced market conditions are generally in the 40-60 per cent range. Below 40 per cent is considered to be a buyer’s market, while above 60 per cent is considered a seller’s market.