Two major cities drive Sask. real estate market for November
There were 1,006 sales reported across the province in November, a 10 per cent year-over-year increase, marking the fifth consecutive month of year-over-year sales increases in Saskatchewan.
Much of the monthly sales gains were driven by rising activity in the Regina and Saskatoon Regions. As seen in previous months, year-to-date sales remain well above long-term, 10-year trends, as the province continues to report strong sales.
A slight year-over-year increase in new listings was not enough to offset above-average November sales, causing further retractions in inventory levels, specifically in homes priced below $400,000. Inventory levels decreased by over 16 per cent on a yearover-year basis and remain over 30 per cent below longterm, 10-year averages.
“Saskatchewan’s housing market continues to benefit from a strong economy, record employment and population growth,” said Association CEO, Chris Guérette. “These factors, when paired with our relative affordability, continue to support above-average monthly sales and stable demand in home ownership.”
The months of supply rose above five months in November, slightly higher than levels reported earlier this year, but still over 40 per cent below the 10-year average.
Despite a slight gain in the months of supply compared to October, nearly all of the growth was in higher-priced products, as the more affordable segment of the market continues to face significant inventory challenges.
In line with typical seasonal factors, Saskatchewan
reported a slight decrease
CENTRALIZED: Students and families enjoyed the spirit of the festive season during two Christmas concert performances at Central School in Swift Current. Grade 1-3 students presented ‘Twas the Night before Christmas on Dec. 14 and Grade 3-5 students performed ‘Twas One Crazy Night before Christmas on Dec. 21. The Central School choir performed songs at both events, including the school’s new Christmas song, called Christmas is Coming, that students created in October during a workshop process involving Saskatchewan singer-songwriter Jeffery Straker.
Left: Grade 1-3 students give an enthusiastic performance during their Christmas concert. Bottom left: The Central School choir performs the school’s new Christmas song at the start of the Dec. 14 concert. in the benchmark price of $324,400 in November, down from $327,300 in October and up nearly 2 per cent from November 2022.
“Our market continues to outperform many regions across the country, as we once again report strong sales levels and prices that are holding relatively steady,” said Guérette. “Where we are similar to other markets, however, is that we are experiencing persistent inventory challenges, specifically in the more affordable segment of our housing continuum.”