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Basil Pappas

A CLIENT-FOCUSED FRIENDLY AND PRAGMATIC APPROACH TO REAL ESTATE SALES.

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Archive for the ‘Market Stats (Regina)’ Category

Analysis of the Regina Condo Market

Saturday, September 3rd, 2016

I’ve put together some numbers on the Regina Condominium market – specifically townhouses and apartments. Based on the MLS® Home Price Index (Townhouse & Apartment benchmarks) the following is how our Regina real estate market has shaped up in the past 4 years (from July 2012 through July 2016):

Overall
Townhouse: down 7.82%… 1.96% per year
Apartment: down 15.91%… 3.98% per year

Area R1
Townhouse: down 11.93%… 2.98% per year
Apartment: down 11.40%… 2.85% per year

Area R2
Townhouse: up 5.36%… 1.24% per year
Apartment: down 18.28%… 4.57% per year

Area R3
Townhouse: insufficient data
Apartment: down 12.95%… 3.15% per year

Area R4
Townhouse: down 10.23%… 2.56% per year
Apartment: down 17.58%… 4.39% per year

Area R5
Townhouse: down 6.33%… 1.58% per year
Apartment: down 16.54%… 4.14% per year

 

What is this telling us?
There was significant appreciation in the market value of condominiums between 2005 and the end of 2013. The benchmark HPI for townhouses rose 180% between January 2005 and September 2013. The benchmark HPI for apartments rose 198% between January 2005 and January 2013.

However, the stats indicate that if you bought a condominium in July 2012, notwithstanding the rising value trend into 2013, generally speaking, the value of your condo today is most likely worth less than what you initially paid.

So while the overall market is relatively consistent condominiums have underperformed.

Regina Housing Market Healthy & Consistent

Thursday, August 18th, 2016

Everybody knows how much I love stats… so check these out:

Based on the MLS® Home Price Index (Single Family Home benchmark) the following is how our Regina real estate market has shaped up in the past 4 years (from July 2012 through July 2016):

Regina Overall: down 3.17%… 0.79% per year
Area R1: down 2.5%… 0.625% per year
Area R2: up 5.4%… 1.35% per year
Area R3: down 0.8%… 0.2% per year
Area R4: down 5.9%… 1.475% per year
Area R5: down 0.9%… 0.225% per year

What is this telling us?
July 2012 was the peak of the market after rising a whopping 187% over 8 years starting in January of 2005 (23.4% per year). If you bought a single family home like a bungalow or two storey in July 2012, depending on the area, the value of your home today is most likely worth apx the same amount that you paid – that is, the house has neither appreciated nor depreciated significantly.

Condos tell a slightly different story.

Housing Prices on the Rise in 2016

Wednesday, June 15th, 2016

The MLS® Home Price Index (composite) shows a 5.7% increased pricing trend so far in 2016 (Jan 1-May 1). This data supports what I have witnessed in recent months; well-priced listings have been receiving multiple offers and homes in good overall condition are taking less time to sell.

MLS_HPI_JAN_MAY_2016

Regina Housing Trends 2015 (Historical)

Monday, February 1st, 2016

Attached are six (6) graphs based on the MLS® Home Price Index. They illustrate market trends across six categories for the period January 1 – December 31, 2015. To summarize, the Composite Benchmark Performance Index (which includes all classes of residential real estate) saw a 1.94% decline in 2015. Single Family Homes saw a decline of 1.55% where 1 storey homes actually increased nominally by 0.3% and 2 storey homes declined by 6.17%. The Townhouse Condo Benchmark Performance Index declined by 5.89% while the Apartment Condo Benchmark Performance Index indicates a 3.56% decline. Click on the links below to see each categories performance by month throughout 2015.

Composite_Benchmark_Index_2015 Single_Family_Benchmark_Index_2015 1_Storey_Benchmark_Index_20152_Storey_Benchmark_Index_2015Townhouse_Benchmark_Index_2015 Apartment_Condo_Benchmark_Index_2015

Regina’s Overall Real Estate Market Dips Only Slightly

Friday, January 15th, 2016

According to the MLS® Home Price Index (which is based on MLS® sales) Regina’s overall real estate market dipped by 2.88% from January 1 – December 1, 2015. The ‘Composite’ Index shows a drop in the benchmark indicator from $281,500 in January to $273,400 on December 1.

In early February I will provide a market update for the calendar year 2015 across 6 categories of residential properties. Stay tuned.

Click on the following link to see the monthly performance of the MLS® HPI.

Composite_MLS®HPI_2015

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Association of Regina REALTORS® Inc.. Trademarks used under license from CREA.
MLS® MLS REALTOR® Realtor