If you’ve been following the Regina real estate market this year, you’ve probably heard a lot about multiple offers, bidding wars and homes selling incredibly quickly.
And while we are still seeing all of those things, I’ve noticed something interesting happening over the last little while.
We’re also starting to see some homes sit.
So, is the Regina real estate market finally shifting?
I think the answer is yes, but it’s more complicated than simply saying the market is slowing down.
More Choice, But Still a Competitive Market
One of the biggest changes I’ve noticed recently is an increase in the number of homes coming onto the market.
According to Saskatchewan REALTORS® Association data, Regina had nearly 500 new listings come to market in August. Regina’s months of supply also increased during the month, from approximately 1.43 months to 1.72 months once conditionally sold properties were taken into account.
That’s movement in the right direction for buyers, but it’s important to put those numbers into perspective. Inventory remains tight compared with historical levels, and Saskatchewan continues to experience strong housing demand.
What I’m seeing firsthand reflects that.
Some homes are still receiving multiple offers and selling very quickly, while others are sitting longer than we became accustomed to earlier in the year.
It really depends on the area, price range, condition, competition and how in demand that particular property is.
In other words, there isn’t just one Regina real estate market.
Why Are Some Regina Homes Still Selling So Quickly?
In my own experience over the last couple of months, homes in roughly the $350,000 to $450,000 range have continued to move particularly quickly.
That also lines up with broader Saskatchewan market data showing significant demand within this range.
But price isn’t everything.
Sometimes a home comes onto the market and you think, This one is going to go immediately.
And then it doesn’t.
Other times, a property generates far more interest than expected.
That’s why I think it’s important for both buyers and sellers to understand that the market isn’t always predictable from the outside. Two homes at similar price points can have completely different outcomes.
Neighbourhood, lot, layout, condition, updates, presentation and even what else happens to be listed at that exact moment can all affect the amount of interest a property receives.
If a Home Is Sitting, Price Is Often the First Place I Look
When a home isn’t selling in a market where other properties are moving quickly, one of the first things I look at is price.
We’ve had a very busy market over the last several months. Some properties have sold for amounts that were pushed higher because multiple buyers were competing for them.
The important thing for sellers to understand is that one bidding war doesn’t automatically establish the value of every similar house in the neighbourhood.
If a nearby property sold for a surprisingly high amount, it’s understandable that another homeowner might think, If they got that, I should be able to get it too.
But every sale has its own circumstances.
That’s why pricing a home properly involves looking at recent comparable sales and the homes currently listed for sale.
Those active listings are your competition.
When I recommend a listing price, I’m looking at what has recently sold, what is available now, the condition and features of the home, and what buyers are currently responding to.
The market ultimately determines value, which is why pricing strategy needs to evolve along with the market.
For Buyers, I Still Believe Location Comes First
I have a background in interior design, so naturally I love walking into a beautifully designed and updated home.
But when I’m helping a buyer, I always come back to one thing:
You can change a house. You can’t change its location.
Paint can change. Flooring can change. Kitchens can be renovated. Bathrooms can be updated.
The lot, street and neighbourhood aren’t nearly as easy to change.
For families, that might mean considering nearby schools, daycares and parks. For someone else, being close to grocery stores, restaurants or other amenities might matter more. Walkability might be important, or perhaps it’s having a larger yard, a quieter street or a particular commute.
When my clients are considering an area they don’t know well, I encourage them to spend some time there.
Drive around. Walk around. Look at the other homes on the street. Visit at different times of the day if you can. See what’s nearby and pay attention to how the neighbourhood actually feels to you.
A house can check every box on paper, but you also need to feel comfortable with where you’re going to live.
Should Buyers Keep Competing or Wait?
This might be one of the hardest questions in the current Regina market because there isn’t one answer that applies to everyone.
After losing out on a few homes, it can be incredibly frustrating for buyers to find themselves facing another multiple offer situation.
But I never want my clients to feel pressured into buying a home simply because other people want it.
A bidding war isn’t a reason to buy a house.
The house still needs to make sense for you.
It needs to check the boxes that matter to you, fit within a price you’re comfortable paying and feel like a decision you’re confident and happy making.
For some buyers, waiting may make sense. For others, the right house may come along tomorrow and be worth competing for.
Every person’s circumstances, timeline and priorities are different. My role isn’t to pressure someone into a sale. It’s to give them the information they need to make a decision they feel good about.
So, Is the Regina Market Shifting?
From what I’m seeing, yes, but that doesn’t mean the competitive market has disappeared.
We’re starting to see more choice. We’re seeing some homes stay on the market longer. At the same time, we’re still seeing desirable properties, particularly in certain neighbourhoods and price ranges, attract significant attention and sometimes multiple offers.
For sellers, that means realistic pricing and understanding your competition are becoming increasingly important.
For buyers, a little more inventory may provide opportunities, but the right homes can still move quickly.
And for both sides, I think this market is a good reminder of why real estate needs to be looked at on a property by property basis.
Headlines can tell you what’s happening across Regina.
Statistics can tell us where the market has been.
But when you’re deciding whether to buy or sell your home, the most important question is what’s happening in your neighbourhood, your price range and your particular segment of the market right now.
If you’re thinking about buying or selling in Regina and you’re wondering what the current market means for you, I’d be happy to have a conversation about your specific situation.
Jenna Selinger, REALTOR®
Realty Executives Diversified Realty 306-540-4968 jenna@jennaselinger.com
From your first home to your dream home and every move in between.
