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Market Snapshot (week 18)


REAL ESTATE this WEEK

 Week ending Friday May 2 2008  Week 18

Residential within city limits Regina mls data 

  • New listings     141 new listings this week, avg./day 28 
  • Firm sales      83 firm sales this week, avg./day  17

Average ask price (of solds)    $259,200     

Average sale price   $257,400

Average sale price is < %1 under asking

22 of the 83 firm sales were over/bid.

The average over/bid was $8,700

  • Conditional sales   67 conditional sales this week, (conditional sales eventually become firm sales or fall thrus)  
  • Price reductions  58 price reductions this week, avg. size of reduction $11,500  
  • Total homes listed  at end of week  560 of which 100 have conditional sales

 

Comment

Jeff Martin

Recent news headlines are somewhat misleading. The annual percentage increase in value of a 3 bedroom bungalow in Whitmore Park does appear to be somewhere in the range of 55 to 60 % as reported....... However I find it difficult to confirm the actual dollar value amount

Here are my findings ( 3 bedroom bungalows in Whitmore park)

  

May 1, 2006 to May 1, 2007 = 56 sales averaged = $140,029

First four months of 2007 = 10 sales averaged = $168,520

 

May 1, 2007 to May 1, 2008 = 58 sales averaged = $217,377

First four months of 2008 = 9 sales averaged = $ 279,722

 

The numbers “$330,000 and $210,000 “quoted below, don’t appear to be accurate. The average asking price of the 5 homes currently available in Whitmore is $275,900 and 4 of them are well below the $300,000 threshold  

Noteable news 

RICHARD BLACKWELL / May 1, 2008 / The Globe and Mail Report on Business

A national spring survey conducted by broker Century 21 Canada shows that several areas in Saskatchewan have seen home prices leap in the past year - some by close to 60 per cent - far surpassing the jumps anywhere else in the country. The biggest increase came in Regina's Whitmore Park neighbourhood, where an average three-bedroom bungalow rose in price by 57 per cent over the past year to $330,000 from $210,000………Read article

 

 

 

JEFF MARTIN      jmartin@sutton.com     306 536 1955