And just like that we are almost half way through 2019! The year has started off strong with each months total sales surpassing the previous years monthly sales, however, in May we saw the first decline. But BARELY. May 2019 was quite comparable to May 2018 -- only 10 sales shy of having the same total sales of May 2018. Although it was less than last year, the total sales for 2019 are far higher than 2018 - almost 10% higher.
The one thing that is important to note for 2019 is that we are seeing fewer new listings hit the market compared to new listings in 2018. The active listings remains lower as well. If we were to purely base our market on the statistics it would says we are in a balanced market... HOWEVER, we will need to see this remain for far more months for Regina to be truly considered in a balanced market.
Something that may surprise you is there have been quite a few homes that have been priced right and presented properly that have sold ABOVE asking price! The composite benchmark price is remaining consistent in the $260k's for 2019 -- still about a 5% decrease compared to last year. To learn more about the benchmark price and why it's more accurate than an average price, click here.
As always, if you have questions about Regina Real Estate, I'm here to help! Contact me here!