Hey, friends! It's OFFICIALLY summer - YAY! I know I'm excited! Are you doing any travelling? Camping? We'll be staying in Regina for most of the summer as we will have a newborn but are going to try and get away one weekend to go camping! My brother bought a camper this year and we're very much looking forward to borrowing it! Other than that, bring on the patio drinks, backyard fires, beach + pool days! This summer will be so different for us as Amelia will be 3 and is interested in SO much more than she was last year!
But let's dive in to why you're really here.. you want to know what's going on in Regina Real Estate! And I wish it was exciting news, however, the market is continuing to struggle. The year started off strong with increased sales month over month and then in May it shifted. Sales are down (again) this month compared to last year in June. May was pretty close to par, but June 2019 is significantly lower than June 2018 - almost 15% less in sales. The Composite Benchmark Price (read more about it here) is continuing on it's downward trend which is great for buyers but not so great for sellers. I've mentioned it before, and I'll say it again.. depending on the neighbourhood you are selling in, can really depend how much you have been impacted by the market changes over the past few years. Believe it or not, we are seeing homes sell above asking price - not just by just a few hundred dollars but some a couple thousand dollars... and even some $10,000 ++.
Overall in 2019 the total YTD sales is still higher than where they were in 2018 by the end of June. If the rest of the year follows suit, we may see a lower annual sales than 2018, and 2018 was already low!
As always, if you have any questions about Regina Real Estate, I'm here to help! Contact me here!