Regina Real Estate Market Update September 2022

Regina Real Estate Market Update September 2022

The Regina real estate market update for September 2022 suggested a more balanced market than we have previously seen. Inventory is still remaining lower than usual for this time of year but sales are just slightly higher year over year. Statistically based on the amount of inventory we have Regina can be considered in a sellers market but with the higher days on market and slower sales it’s safe to say things have balanced out. There are still competitive offer situations happening depending on the property and the price range.

 

See here for a few comments made by CEO Chris Guérette of the Saskatchewan Realtors Association:

Sales activity continued to trend down in September with 1,267 units sold, a year-over-year decline of seven per cent. However, as seen in August, sales levels remain consistent with long-term trends as the market returns to more balanced conditions.

New listings were relatively stable on a year-over-year basis but continue to decrease when compared to levels seen earlier this year. Despite adjustments in both sales and new listings, inventory levels also fell in September. Inventories remain nearly 11 per cent lower than levels seen last year and well below long-term averages, which continues to prevent the market from moving into “buyers’ market” territory.

“Saskatchewan residents are not immune to the impacts of interest rate increases and ongoing inflationary pressures,” said Saskatchewan REALTORS® Association CEO Chris Guérette. “That said, our housing market continues to fare better than many other regions in the country and we expect that to continue.”

Regina Real Estate Information:

Unlike certain areas of the province, Regina continues to post stable sales activity relative to last year. Gains in the apartment condominium sector nearly offset reductions in the detached and attached sectors. With 2,999 sales year-to-date, Regina is trending nearly two per cent higher than last year and on pace for another record year. While Regina has not faced the same supply constraints as Saskatoon, new listings continue to decline which is contributing to inventory levels that are over 18 per cent lower than reported last year. 

With nearly four months supply, levels of supply remain lower than what is traditionally seen in September. Despite relatively tight conditions, there has been an adjustment in monthly prices as higher lending rates weigh on consumers. However, prices remain higher than last year due to gains in the detached sector.

Stat Breakdown:

For the month of september sales were equal to that of last years, 6% fewer new listings, 18% less inventory and a slightly higher benchmark home price. 

Year to date statistics show that we are well on the way to higher sales for the year over all, and that listings & inventory are down while average pricing is slight up. 


As we get further into the calendar year we can continue to see a decrease in supply with an increase in pricing. 

Benchmark pricing trending slightly upward. 

If you have any questions about the Regina real estate market for September 2022 please feel free to give us a call at 306-552-7047 or fill out our online contact form
 

Kelsey Smith Is Regina’s Choice

Choosing the right Realtor® is key to ensure a positive and successful real estate transaction. Kelsey Smith promises to deliver the education and time necessary to buy or sell your Regina home. Call 1-306-552-7047 and rest easy knowing you have made the right choice.

Submit Message
TopListingsSeller's GuideBuyer's HandbookCall Me
TopListingsSeller's GuideBuyer's HandbookCall Me
Have questions? Call today at:
1-306-552-7047
CALL US
What Is My Home Worth?