Regina home sales up 33% in February, inventory declines across Sask. continue

Bank of Canada announcing key interest rate today The Bank of Canada is expected to announce its key interest rate this morning and economist predict the rate will hold at 5%.

Home sales were up 33 percent in Regina this February compared to last, according to a report from the Saskatchewan Realtors Association.

The association reported that Regina saw 273 sales in February, 2024.

“While we typically see seasonal inventory gains in February, another month of strong sales resulted in a 25 per cent year-over-year inventory decline, with inventory levels sitting 40 per cent below long-term, 10-year trends,” the report said.

The benchmark price in Regina rose to $310,600 in February, up from $301,900 in January and also up more than three per cent when compared with the benchmark price in February 2023.

A total of 999 sales were reported in February across Saskatchewan – marking a 17 per cent year-over-year gain and 24 per cent rise above long term 10 year averages, the report said.

Saskatchewan’s benchmark price was $330,800 in February, up from $319,600 in January and almost five per cent higher than in February of 2023.

“While there was a slight year-over-year increase in new listings, an eighth consecutive month of above-average sales prevented any supply growth – resulting in a 17 per cent year-over-year decline in inventory, with inventory levels sitting nearly 38 per cent below 10-year trends,” the report said.