“SASKATCHEWAN REAL ESTATE MARKETS FARE BETTER THAN EXPECTED: poised to help boost provincial economy”
The April market stats are out and as the headline reads, the numbers are “better than expected” and actually mirror exactly what we have experienced personally in our business.
We have seen less activity in the market in April, more so on the selling side than buying, and most transactions were necessary rather than discretionary. But because there were less listings, we saw homes selling quickly and prices holding.
The National picture may be different because every province is in a different situation right now but we knew that the effects of a COVID world on real estate in Regina, and the province as a whole, would be directly related to the time it took to re-open our economy…so far so good!
Here’s a snapshot of what happened in our market in April:
* Sales in Regina were down 50.2%, going from 289 in April 2019 to 144 in April 2020
* The number of new listings in April 2020 fell significantly from the number last year. In Regina, new listings fell 50.8%, going from 581 to 286
* Active listings also fell 17.0% in Regina (down from 1,457 to 1,209), which just means that some sellers chose to remove themselves from the market in this time of COVID.
* Homes in Regina stayed on the market an average of 62 days in April—up a modest 1.6% from 61 days last year.
* Median home prices in Regina went from $283,000 to $287,925 (an increase of 1.7%) and were approximately 1.8% below the 5-year average median price.
* The MLS® Home Price Index (HPI)—which is considered a more accurate measure of house price trends—was down just 0.2% from $271,300 to $271,100, year to year.
For the full SRA media release with all the provincial stats for April check out the link below:
⁉️ So what does all of that mean to you?
If you have questions about anything real estate, just ask…
We’re here to help!
~Karin & Jen
Posted on May 7, 2020 by W2 Realty Team
Posted in home selling tips, real estate, real estate agents, REALTORS®, REALTORS®, selling tips, yqr, YQR Real Estate
There's a lot to do to get ready to list your home so we're helping you out with a guide to get you started!
Check out our prvious blog with part 1 of 2 for the whole list of to-do's....if you have a month or more to prepare, you can take one item per day to prepare your home for sale!
1: Repair What You’ve Been Avoiding
We all have that list of “I really need to do that” repairs and fixes. Now’s the time to get to it, including fixing the leaky faucet, the picture holes in the wall, etc. and get it done once and for all. If you aren’t handy yourself, bring in a handyman to take care of it (we know some good ones, we can help).
2: Have Your Windows Cleaned
We know, you probably don’t even think about cleaning your windows, but rain, snow and blowing dust & dirt(this the prairies after all) can really make your windows dirty. We like Men in Kilts for affordable window cleaning.
3: Focus on the Front Yard
Curb appeal matters and will significantly impact people’s first impression of your house. Stand on your street and take in your front yard: what do you see? At a minimum, clean the scuff marks off the front door and touch-up the chipped paint or give it a fresh coat. And if your front door has seen better days, consider investing in a new one. If you have a front porch, make it look inviting (and not just a receptacle for more of your stuff). Invest in some seasonal plants. Clean up the garden. A lot of Buyers will see your home at night, so make sure that your outdoor lighting is showing off your home.
4: Don’t Ignore Your Backyard
What you can accomplish in the back yard will, of course, depend on what time of year you sell. If you’re selling in the near future(Spring/Summer) clean up the gardens, trim the trees, cut the grass, stain the deck and clean the patio furniture and BBQ. If it’s winter: do your best to make it look presentable. If you have a garage: tidy it up and fix any peeling paint and the sagging roof.
5: Have your Carpets Cleaned
Unless your carpets are brand new, you’ll want to have them steam cleaned (or do it yourself). You’ll be amazed at what a difference it makes.
6: Don’t Forget About the Floors
If your floors are scratched, there are some great products out there to make them look almost-brand-new. And just make sure you do a good deep clean of the surface & don’t forget those corners!
7: Tackle the Walls and Doors
If your walls and doors are scuffed, buy some Magic Erasers and go to town. You’ll wonder why you didn’t do it sooner. If your art needs an update, now’s the time to do it too.
8: The Final Clean
By now you’re probably exhausted..sorry about that. While you can do this final step yourself, if your budget allows bring in professional cleaners who will make sure to clean all the spots you don’t get to: the baseboards, inside the lights, the fridge, etc. A clean home matters to potential buyers….it just does!
9: Make Plans for the Kids and Pets
We love them all but we want buyers to see themselves living in the space so now is the time to stow the toys and finger painting artwork and have a plan to tuck it all away easily before showings.
10: Make Your Home Smell Good
If you’re a dog owner, freshen up the couches, beds and surfaces where the dog sleeps. You may not smell Fido anymore, but trust us Buyers will. If you a cat, make sure the litter box is inconspicuous and cleaned regularly so it’s all fresh!
If you have diffusers they are great to make everything smell great but avoid strong air fresheners…it makes it seem like you’re trying to hide something!
11: The Final Once-Over
You’ve worked hard, to get ready to list, now take one last look and see if there is anything that would distract a buyer? Take one final walk through all the rooms and adjust as necessary. Now you’re set & ready to go!
If you need a hand to figure out what projects you need to take on to get the best result in your home sale, we are here to help. Just ask!
~ Karin & Jen