2015 real estate prices did not vary too much from the first quarter of 2014. For the first 90 days in 2015 there were 533 properties that changed hands just 19 less than for the first 90 days of 2014.
In the first quarter of 2015 there were 459 single family dwellings that sold for an average sale price of $314,499. During that same time, 74 condos were sold with an average sale of price $274,526.
Canada Mortgage and Housing Corporation forecast for 2015 states that rising inventory will prompt as slower pace of housing starts in 2015. Along with those existing homes sales will edge higher in 2015 while price growth moderates and the rental constructions will add to supply lifting vacancies in 2015. Net migration to moderate but remain elevated through 2015.
Overall we are in a somewhat of a “buyers” market.
My findings for the first 90 days of real estate sales in Regina is that if a property is priced correctly, neat and tidy and with some updates in a decent area it will sell in less than the average sale time of 47 days as was the case for the first quarter of 2015.