Average house price climbs in Regina to $313, 917
It continues to be a seller's market in Regina for home owners.
The average prices of houses selling with Regina's city limits was $313,917. That is an increase of nine per cent and also a new high. When the areas around Regina were included, that price lowers to $297,708.
Other new numbers from the Association of Regina Realtors show 386 sales were reported through the MLS system for the Regina area. That's under 400 for the first time since March this year. Last month had the third highest July sales, just behind 2009 and 2007.
Altogether, sales represented $100 million for the fifth month in a row, which is also a new high for July. During the month it took an average of 32 days to sell a home, which was just under 33 days last year.
Gord Archibald, the executive officer of the Association of Regina Realtors, expects trends like this to continue.
"Provided we continue to see economic growth, population growth and job growth that will continue to support a pretty vibrant market here in Regina," said Archibald.
The MLS system doesn't report where people are buying from, but Archibald expects it is a mix of newcomers to the area, those moving up and and first-time buyers.
With files from CJME's Sarah Mills and Karen Brownlee.
Edited by CJME's Karen Brownlee.