Homes in Regina surpassing Expectations in October 2020

Homes in Regina and our real estate market as a whole are surpassing any expectations we had for this year, or at least when the pandemic really started to affect the general population. Home sales are above five-year averages while inventory is down, creating a strong seller’s market. Not to mention that interest rates are currently lower than they have been in the last five years, making it easier for first time home buyers to get into the market. 

Home sales in Regina were up 42.6%, going from 204 in October 2019 to 291 in October 2020, and up 41.5% in the overall region, going from 253 to 358. In Regina, sales were 26.6% above the 5-year average (and 19.2% above the 10-year average), while in the larger region, sales were 29.2% above the 5-year average (and 24.1% above the 10-year average). Year-to-Date (YTD) sales in Regina rose 12.2% over last year, increasing from 2,309 to 2,590, while YTD sales in the larger region rose 17.1%, going from 2,751 to 3,221.


Regina real estate

Regina real estate

In Regina, the number of new listings in October 2020 rose 6.0%, going from 383 to 406 (0.1% above the 5-year average and 1.3% above the 10-year average), while in the region, new listings rose 3.0% from 470 last year to 484 this year (0.9% below the 5-year average and 0.2% below the 10-year average). YTD new listings in the city fell 4.1%, going from 4,630 to 4,441, while in the larger region, the number of new listings to date fell 5.4%, going from 5,892 to 5,571. Active listings fell 20.4% in Regina (down from 1,428 to 1,137) and fell 25.7% in the region (down from 2,036 to 1,512).

Regina real estate

Regina real estate

Inventory for homes in Regina stood at 3.9 months (which is 44.2% below the level last year and 35.7% below the 5-year average), while the sales to listing ratio was 71.7%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 4.2 months (which is 47.5% below the level last year and 40.5% below the 5-year average), while the sales to listing ratio was 74.0%, suggesting that market conditions favour sellers.

Regina real estate

Regina real estate

Homes in Regina stayed on the market an average of 55 days in October—down 28.6% from 77 days last year (but below the 5-year average of 60 days and above the 10-year average of 49 days). Homes in the region stayed on the market longer than homes in the city at 62 days on average in 2020, but also down from an average of 77 days last year (and 3.1% below the 5-year average). 

Regina real estate

Regina real estate

The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—is essentially flat, with the benchmark single-family home price going from $290,700 to $290,600. Year-to-date, the median home price in Regina was $290,532 which is 0.6% above the $288,865 price from the same time last year. Median home prices in the region went from $280,000 to $290,250 (an increase of 3.7%) and were approximately 2.0% above the 5-year and 0.5% above the 10-year average median price. Year-to-date, the median home price in the region was $289,425 which is 1.0% above the $286,550 price from the same time last year.

Regina real estate

Regina real estate

Contact Me

Homes in Regina and the real estate market are somehow thriving through these times. With the market strongly favouring sellers, right now is a great time to explore selling your home. For more information, you can contact Kelsey at 306-552-7047 or fill out my online contact form

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