Real Estate Roller Coaster
REAL ESTATE ROLLER COASTER
So many publications and REALTORS® focus on average price and number of sales when looking at the Real Estate market. I believe we need to dig deeper. So I have, and what I found is fascinating!
Have a look at the charts below REGINA 2011 VS 2010 YTD.They are a comparison of Median Price Year to Date 2011 vs 2010. What's neat is the shift in just one year of home sales from 0 to $300,000, and those buyers stepping it up to the next level of $300,000 to $600,000! 43% of the Single Family Homes sold in Regina YTD have been in the $300,000 to $600,000 price range!
Think about that in comparison to only a few years ago in 2007. Only 11% of the Single Family homes sold in Regina that year were $300,000 to $600,000. In fact $300,000 to $400,000 made up only 8%. 0-$300,000 made up 88% of the market!
What a incredible ride for sellers and what a shock for buyers! I know first hand clients who have moved home from Calgary and are dumbfounded at when they sold for there and what that money gets them here.
I have no crystal ball, but I will say this. Every up has a down, every low has a high. That's just nature at work. Be prepared for constant changes in the market, nothing stays the same. But get the best advise you can and make the most of any market you're in when it comes time to buy or sell.