MARCH MLS® SALES SOLID: AVERAGE PRICE UP Residential sales through the Regina and area Multiple Listing Service® in March continued to be reported at above historical levels with some upward pressure on the average price, said the Association of Regina REALTORS® Inc. Average Residential Price: March - $244,888, up 4% from last year of $234,504.
Year to date: - $232,385, up 5% over 2008’s $221,085. Average Days on the Market: March 2009 - 47 days before selling, compared to 51 days in February. Homes sold at an average of 95.9% of asking price compared to 95.8% in February. “Despite the active inventory of listings being double normal levels, we saw some signs of the market picking up during the month with the average number of days on market before selling showing a steady decline and the selling price as a percentage of asking tightening up. We are also beginning to see more sales taking place in less than 10 days from listing date”, said Gord Archibald, Executive Officer of the Association of Regina REALTORS® Inc. “The fact that the average price of homes selling is holding is also a good indication of steady demand for housing in our market”. “Although the boom markets of 2007 and 2008 are behind us the current market is performing very well from an historical perspective. We’re also not experiencing the significant drops in sales and property values taking place in many other markets across the country. We are anticipating the traditional busy spring market to occur over the next few months”, concluded Archibald. Source: www.reginarealtors.com |