Hey, friends! Another month has passed which brings another month of stats! It's hard to say which way the real estate year will go this early on, but so far this year is looking better than last! Sales were up this month compared to March 2018 - quite a bit actually! Mar 2019 saw 210 sales compared to 176 in Mar 2018... that's a 16% increase! Although this can seem like good news, homes are taking an average of 73 days to sell in 2019; much longer than the 56 average days on market in 2018. Additionally, the composite benchmark price is still on a downward climb - just about 5% decrease compared to 2018 YTD. With a higher total number of sales thus far in 2019 versus 2018, it can feel like our market is in recovery. However, it's important to remember that 2018 had the lowest record of sales since 2005. With Q1 in the books, our hopes are 2019 will proceed to be stronger than 2018.
As always, if you have any questions about the Regina Real Estate market, or would like a home evaluation connect with me here!