close
close

Low supply continues to plague Sask. real estate markets

Low supply continues to plague Sask. real estate markets

The increases are not one-off, as the trend of above-average sales has continued for the 12th month in a row.

The provincial benchmark price rose to $343,000 in June, up $3,000 from the previous month and five percent higher than the same period in 2023.

The communities of Humboldt ($272,500), Martensville ($398,800), Melfort ($250,100), Prince Albert ($251,700), Saskatoon ($403,500) and Warman ($463,500) reported record prices in June, with Saskatoon breaking the $400,000 barrier for the first time.

“Demand for housing remains strong in Saskatchewan, despite ongoing supply issues that are putting significant pressure on the more affordable end of our market, particularly in our two largest centres,” Guérette said. “While real estate is local and market conditions vary by region, it can be incredibly challenging for potential buyers right now.”

Regional highlights

Regina-Moose Mountain and Prince Albert were the only regions to report year-over-year revenue growth, while revenue so far this year remained above average in all regions outside the Northern Region.

Saskatchewan’s two largest regions continue to report the tightest market conditions in the province, with the Regina-Moose Mountain region reporting 3.09 months of supply and the Saskatoon-Biggar region reporting 2.09 months of supply.

With prices up more than 12 percent from last year, the city of Melfort reported its highest year-on-year price increase for the second month in a row.

Meanwhile, Humboldt, Meadow Lake, North Battleford and Prince Albert reported year-over-year price increases in June. Saskatoon, Regina, Estevan, Weyburn, Moose Jaw and Swift Current also saw gains.

Snapshot of figures June 2024

Prince Albert:

Benchmark price – $246,600, up 1.4 percent year-over-year

Inventory – 149, down 14.9% year-on-year.

Melfort:

Benchmark price $250,100 up 12.1%

Stock – down 22, 33%

Meadow Lake:

Benchmark Price – $273,900, up 2/3%

Stock – 46, up 17.9%

Humboldt:

Benchmark price – $272,500, up 4.7 percent

Stock – 25, down 54.5%

Jansen region:

Benchmark Price – $235,720, up 37.1 percent

Inventory – 170, down 26.4%

Battle for the City:

Benchmark Price – $247,500, Up 2.9%

Inventory – 35, down 12.5 percent

North Battleford:

Benchmark Price – $209,200, up 2.5%

Inventory – 107, up 1.9%

[email protected]