ASSOCIATION OF REGINA REALTORS INC.

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1 ASSOCIATION OF REGINA REALTORS INC McIntyre Street Regina, Sask. S4P P9 Ph: Fax: For immediate release November 5, OCTOBER RESIDENTIAL SALES YIELD MIXED RESULTS Despite being on par with, home sales through the Regina and area MLS System in were the lowest since 8 and well below five- and ten-year averages, said the Association of Regina REALTORS Inc. There were 55 sales recorded during the month in all geographic areas, identical to the number of sales posted in. With the exception of last year, this is the lowest level of sales since 8 when 31 sales occurred and well below the immediate past 5-year average of 85 sales and 1-year average of 88. There were 15 sales posted in the city, an increase of 4.4% from when 6 sales were reported. The number of sales in the city was also below the 5-year average of 38 and 1-year average of 44. For the year-to-date there have been,687 sales recorded in all areas, a decrease of 6.5% from,874 in. In the city, there have been,17 sales compared to,346 last year, down 7.4%. For, the MLS Home Price Index (HPI), a much more accurate measure of housing price trends than average or median price, reported a composite benchmark residential price of $77,1 and index of 59.4 in the city, down 3.6% from $87,4 at the same time last year. This is part of a price loss trend that began one year, and is now 8.9% below the composite price reported in of $34,5. The HPI measures residential price trends based on four benchmark home types, with the index set at a base of 1 for January 5. Much of this price loss has occurred in the last twelve months due to slowing demand, elevated supply levels and the cooling impact of federal mortgage stress rules introduced in the fall of and a second round in January. These rules have distorted and weakened demand locally by causing many buyers hoping to purchase a home to look down in price range to qualify for a mortgage, or leave the market altogether. The sales dollar volume of $74.4M posted in all geographic areas for the month was down 1. % from s $74.9M. Dollar volume in the city of $64.8 M was up 4.1% from s $61.3M. 1

2 In the city, there were 1,594 active residential listings on the market at the end of, an increase of 1.4% from s 1,444 but down from 1,65 listings at the end of September. There were 538 new listings placed on the MLS System during the month in all geographic areas, down 1.7% from s 547. Homes that did sell in the city sold in average of 66 days in the city and 71 days in all areas. These compare to 61 and 63 days respectively last year. Although there was some room for optimism in the results, we continued to see the basic pattern of weakened demand for economic reasons and due to more difficulty for buyers to qualify for mortgage financing. There also continues to be historically high number of listings for sale on the market, said Gord Archibald, Chief Executive Officer of the Association of Regina REALTORS Inc. We are anticipating a similar market trend for the remainder of the year. While there is plenty of choice of homes in most areas for buyers, sellers are well advised to set their asking price by taking current market conditions into consideration, concluded Archibald. The Association operates the Multiple Listing Service System in Regina and area and publishes the Southern Sask Real Estate Review. The MLS System is a co-operative marketing system used only by Canada s real estate Boards to ensure maximum exposure of properties for sale. Additional market information may be accessed here: For more information, contact: Gord Archibald, Chief Executive Officer GArchibald@ReginaREALTORS.com Trademark owned or controlled by the Canadian Real Estate Association. Used under license.

3 Regina City and Region Sales Activity ( only) New Listings ( only) Average Days on Market ( only) Months of Inventory ( only)

4 Regina City and Region Sales Activity ( Year-to-date) New Listings ( Year-to-date) 3,, 1, 3,5 3,88 3,377 3,141 3,175,98 3,15,874,687 6, 4, 5,4, 5,71 5,96 6,149 6,99 6,589 6,33 6,757 6,58 Average Days on Market ( Year-to-date) Months of Inventory ( Year-to-date)

5 Regina City and Region Compared to 5 Actual 8 Sales Activity Dollar Volume ($) $74,357, New Listings Sales to New Listings Ratio Months of Inventory Average Price ($) $91, Sale to List Price Ratio Average Days on Market Compared to 5 Year-to-date 8 Sales Activity, Dollar Volume ($) $817,34, New Listings 6, Sales to New Listings Ratio Months of Inventory Average Price ($) $34, Sale to List Price Ratio Average Days on Market Sales / new listings * 1; Compared to Levels from previous periods Active listings at month end / monthly sales; Compared to levels from previous periods 3 Sum of sales from January to current month / sum of new listings from January to current month 4 Average active listings from January to current month / average sales from January to current month 5 Sales to new listings ratio and months of inventory shown as levels; all others calculated as percentage changes

6 City of Regina Sales Activity ( only) New Listings ( only) Average Days on Market ( only) Months of Inventory ( only) MLS HPI Benchmark Price and Average Price $35, $3, $5, $, Jan8 Jul8 Jan9 Jul9 Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan19 MLS HPI Composite Benchmark Price Average Price

7 City of Regina Sales Activity ( Year-to-date) New Listings ( Year-to-date) 3,,5, 1,5 1, 5,687,864,819,644,57,41,496,346,17 5, 4, 3,, 1, 4,87 4,3 4,68 4,88 5,63 5,79 4,683 5,134 5,88 Average Days on Market ( Year-to-date) Months of Inventory ( Year-to-date)

8 City of Regina Compared to 5 Actual 8 Sales Activity Dollar Volume ($) $63,78, New Listings Sales to New Listings Ratio Months of Inventory Average Price ($) $96, Sale to List Price Ratio Average Days on Market Compared to 5 Year-to-date 8 Sales Activity, Dollar Volume ($) $67,64, New Listings 5, Sales to New Listings Ratio Months of Inventory Average Price ($) $39, Sale to List Price Ratio Average Days on Market Sales / new listings * 1; Compared to Levels from previous periods Active listings at month end / monthly sales; Compared to levels from previous periods 3 Sum of sales from January to current month / sum of new listings from January to current month 4 Average active listings from January to current month / average sales from January to current month 5 Sales to new listings ratio and months of inventory shown as levels; all others calculated as percentage changes

9 City of Regina MLS HPI Benchmark Price percentage change vs. Benchmark Type: 1 month 3 months 6 months 1 months 3 years 5 years 1 years Composite $77, Single Family $88, One Storey $76, Two Storey $37, Townhouse $49, Apartment $165, Historical Values Benchmark Type: 1 month 3 months 6 months 1 months 3 years 5 years 1 years Composite $77,1 $77, $79,8 $73,9 $87,4 $81,5 $34,1 $3,7 Single Family $88,8 $88,3 $91,5 $84,3 $3,6 $89,7 $313,4 $35, One Storey $76,1 $75,5 $8, $7,4 $88,8 $75, $97, $19,8 Two Storey $37,1 $37, $35,9 $3,9 $337, $33,9 $359,8 $78,4 Townhouse $49,9 $46,4 $36,3 $35,5 $38,4 $47,9 $75,8 $19, Apartment $165,5 $169,4 $176,6 $178,6 $177,1 $197,7 $5,9 $184,9 $35, $3, $5, Composite Single Family 1 Storey Storey Townhouse Apartment $, $15, Jan8 Jul8 Jan9 Jul9 Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan19