Regina Real Estate Market Update May 2024

Regina Real Estate Market Update May 2024

Interested in what's happening with Regina Real Estate Sales? Read the monthly article for detailed market stats!

Regina Summary:

Wow! The Regina Real Estate market in 2024 has been wild so far. I haven't been selling houses for two decades (only 8 years) but I personally haven't seen inventory so low and the Ask to Sale Price ratio so high in my career so far. What this means is that 80% of listings that are coming to market are selling and are selling within .1% of their asking price. This takes into account those homes that sell under the asking price which averages out the ones that sell over the asking price. It’s a recipe for a very very competitive market. Home prices are slowly trending up and if interest rates come down a few more points we will likely see prices continue to increase. 

Our team is thrilled to have helped so many buyers & sellers be successful so far this year, however we still have clients that have been patiently waiting for their perfect home to hit the market. We are working hard to meet everyone's needs, including our Rent to Own clients, long distance sellers & out of province buyers. 

Statistics for May:

Total Sales: 440

New Listings: 559

Total Inventory: 742

Months of Supply: 1.69

DOM (Days on Market): 34

Benchmark Price: $320,000

Percentage of new listings to sales: 79%

Ask to Sale Price Ratio: 0.99



Saskatchewan reported 1,841 sales in May, up six percent year-over-year and 24 per cent above long-term, 10-year averages. Sales levels remain strong across many regions of the province, with the largest year-over-year gains occurring in the Swift Current-Moose Jaw and Northern regions.

In line with seasonal expectations, the province reported a month-over-month gain in new listings. However, strong sales continue to prevent significant inventory relief, with inventory levels remaining at their lowest point since 2008. The sharpest decline in inventory continues to be experienced in homes priced below $300,000, as the more affordable segment of the market remains extremely competitive.

“Our housing market continues to report strong monthly sales figures despite persistent inventory challenges,” said Association CEO Chris Guérette. “An eleventh consecutive month of above-average sales is quite impressive when you consider how challenging it can be for prospective buyers in some markets in our province right now.”

Saskatchewan reported a residential benchmark price of $340,400 in May, up from $339,800 in April and over four per cent higher than May 2023. Prices rose across all property types in May, with the most significant gains occurring in apartment and row/townhouse-style properties.

“While the provincial months of supply fell below three months in May, conditions remain much tighter in our two largest centres – as Regina and Saskatoon are again reporting less than two months of supply,” said Guérette. “With further rate cuts on the horizon likely to spur additional demand – and no immediate inventory relief in sight – we expect tight conditions to continue to place upward pressure on prices across the province.”


Regina Region May 2024 Real Estate Regina May 2024

Regina Real Estate 2024 Regina Real Estate May 2024

Are you looking to buy, sell, or invest in the local Regina real estate market? Our team is here to guide you every step of the way. Fill out the online contact form or call at 306-552-7047 for a personalized consultation and let us help you achieve your real estate goals.

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