Regina home sales, listings down in April: SRA

(File photo)

Regina home sales and listings were down in April relative to the same time last year and year-to-date figures, according to a report from the Saskatchewan Realtors Association (SRA). 1.5891327

“Current levels are far lower than what we would expect to see in the market at this time of year. While conditions have been tighter historically, we have not seen market conditions like this for over a decade and it is resulting in further price growth,” said Saskatchewan Realtors Association (SRA) CEO Chris Guérette.

In April, the monthly residential benchmark price of homes in Regina rose to $271,100, which is the highest it’s been since 2017.

There were 380 sales in Regina for the month of April. There were 625 new listings and 1,060 listings in inventory. Inventories are 13 per cent below long-term trends and higher than levels recorded in the real estate market over the past four months.

“While rising lending rates are likely contributing to some of the pullback in sales, another challenge limiting sales has been the drop in supply choice, especially in the larger markets of the province,” said Guérette.

Province-wide, there were 1,547 home sales in April, which is lower than the record high set last April. The provincial benchmark price of homes rose to $295,000 in April – two per cent higher than March and four per cent higher than last year.

In Saskatoon, the benchmark price of homes reached a new record high of $338,500.