July 2021 Regina Real Estate Market Update

Regina Real Estate Market Update July 2021

Sales in Regina were up 9.6% going from 374 in June 2020 to 410 in June 2021, and up 3.7% in the overall region, going from 482 to 500. In Regina, sales were 27.3% above the 5-year average (and 27.3% above the 10-year average), while in the larger region, sales were 25.5% above the 5-year average (and 26.8% above the 10-year average). Year-to-Date (YTD) sales in Regina rose 61.4% over last year, increasing from 1,229 to 1,983, while YTD sales in the larger region rose 60.1%, going from 1,518 to 2,430.

Sales volume was up 17.3% in the city, going from $116.9M to $137.0M in 2021 (33.2% above the 5-year average, and 31.8% above the 10-year average). In the region, sales volume was up 11.2%, going from $150.8M to $167.7M (32.0% above the 5-year average, and 32.9% above the 10-year average). YTD sales volume in the city was $639.8M, an increase of 72.6% from last year, while in the region, YTD sales volume was $794.8M, an increase of 72.7% from last year.

In Regina, the number of new listings in June 2021 rose 6.0%, going from 599 to 635 (6.9% above the 5-year average and 11.5% above the 10-year average), while in the region, new listings rose 2.7%, going from 745 last year to 765 this year (3.1% above the 5-year average and 5.7% above the 10-year average). YTD new listings in the city rose 33.1%, going from 417 to 554, while in the larger region, the number of new listings to date rose 25.8%, going from 534 to 672. Active listings rose 5.4% in Regina (up from 1,335 to 1,407) and fell 4.6% in the region (down from 1,853 to 1,767). Inventory in Regina stood at 3.4 months (which is 3.9% below the level last year and 28.4% below the 5-year average), while the sales to listing ratio was 64.6%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 3.5 months (which is 8.1% below the level last year and 34.9% below the 5-year average), while the sales to listing ratio was 65.4%, suggesting that market conditions favour sellers.

Homes in Regina stayed on the market an average of 38 days in June, down 34.5% from 58 days last year (but below the 5-year average of 48 days and below the 10-year average of 39 days). Homes in the region stayed on the market longer than homes in the city at 43 days on average in 2021, also down from an average of 62 days last year (and 19.2% below the 5-year average). The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—saw the price of homes in Regina rise 7.3% year-over-year, going from $249,600 to $267,800.

From: SRA (Saskatchewan REALTORS® Association)