More homes sold, benchmark prices drop

Local monthly home sale numbers were released today by the Saskatchewan Realtors Association.

The City of Regina reported 359 home sales in August, a year-over-year increase of nearly 6 per cent and 22 per cent above long-term, 10-year trends.

The realtors say that rising August sales were met with a pullback in new listings, resulting in further inventory declines and the months of supply dropping below three months.

But benchmark prices have dipped. Regina reported a benchmark price of $313,100 in August, down from $319,200 in July and $318,700 in June.

Realtors say this is due to pullbacks in the higher-priced detached sector. 

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