RE/MAX Crown Real Estate

Murray Dollard is a real estate icon! He was the youngest president of both the Regina and Saskatchewan Real Estate Associations, and sat on the board of the Canadian Real Estate Association. Equally important, he's been part of the Breakfast Club for over 25 years.

2023 has been hot for real estate in Regina! Average sale price is $309,000, which appears lower than last year but there's also been a lot more transactions. Inventory is down from last year, but it's the tightest it's been since 2011. 67% of new builds are for rental properties, which is the highest in Canada, and the bulk of them are built by 1 company.

Our last building boom was 2013, where there were 113 companies. Now there's only 25, and there's fewer "spec" homes.

A lot of mortgages are coming due for renewal. Based on interest rate changes,  the average family who has a $300k mortgage who sees a rate change of 2 to 5% will see an increase of nearly $600/mo on their mortgage. So, a "shock" is coming.

Fun fact: Hardwood floors have a 147% return on investment. Insulation/garage is 100%, HVAC 80%, kitchen 75%, steel front door 63%.

Much of Murray's business is from referrals, and he does his best to reciprocate!