Regina housing market off to slow start in 2020

Housing prices in the city were down in January compared to the same month in 2019 — but so were sales.

In a media release Friday, the Saskatchewan Realtors Association said the average housing price in the city in January was 9.5 per cent lower compared to the same month last year.

The average price in the city in January was $263,270.

But sales also fell by more than 20 per cent in the city year over year. There were 115 sales in Regina in January, down from 144 in the same month in 2019.

Houses in the city currently are spending an average of 85 days on the market, up from 74 in the same time period last year.

“It’s disappointing to see the new year start with such weak demand in the residential market in Regina,” Jason Yochim, the association’s chief executive officer, said in the release.

“Like any market, however, real estate dips and swells and with prices as low as they are, right now is a great time to buy.”