June 2021 Real Estate Market Update

Regina Real Estate Market Update June 2021

Sales in Regina were up 65.4% going from 234 in May 2020 to 387 in May 2021, and up 66.6% in the overall region, going from 293 to 488. In Regina, sales were 27.6% above the 5-year average (and 22.7% above the 10-year average), while in the larger region, sales were 31.5% above the 5-year average (and 29.3% above the 10-year average). Year-to-Date (YTD) sales in Regina rose 84.0% over last year, increasing from 855 to 1,573, while YTD sales in the larger region rose 86.3%, going from 1,036 to 1,930.

Sales volume was up 84.2% in the city, going from $69.4M to $127.9M in 2021 (31.6% above the 5-year average, and 25.2% above the 10-year average). In the region, sales volume was up 89.7%, going from $86.3M to $163.6M (37.9% above the 5-year average, and 34.7% above the 10-year average). YTD sales volume in the city was $502.8M, an increase of 98.1% from last year, while in the region, YTD sales volume was $627.0M, an increase of 102.6% from last year.

In Regina, the number of new listings in May 2021 rose 33.2%, going from 485 to 646 (3.0% above the 5-year average and 3.5% above the 10-year average), while in the region, new listings rose 24.3%, going from 642 last year to 798 this year (3.3% below the 5-year average and 1.8% below the 10-year average). YTD new listings in the city rose 41.6%, going from 380 to 538, while in the larger region, the number of new listings to date rose 32.8%, going from 492 to 654. Active listings rose 5.2% in Regina (up from 1,242 to 1,307) and fell 6.6% in the region (down from 1,769 to 1,653).

Inventory in Regina stood at 3.4 months (which is 36.4% below the level last year and 31.0% below the 5-year average), while the sales to listing ratio was 59.9%, suggesting balanced market conditions. Inventory in the larger region stood at 3.4 months (which is 43.9% below the level last year and 39.7% below the 5-year average), while the sales to listing ratio was 61.2%, suggesting that market conditions favour sellers.

Homes in Regina stayed on the market an average of 42 days in May, down 31.1% from 61 days last year (but below the 5-year average of 49 days and above the 10-year average of 40 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 65 days last year (and 16.7% below the 5-year average).

The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—saw the price of the benchmark single-family home in Regina rise 8.1% year-over-year, going from $246,000 to $266,000.

From: SRA (Saskatchewan REALTORS® Association)