Saskatchewan’s residential real estate market just keeps getting stronger.
The latest figures from the provincial realtors’ association show buyers continue to outnumber sellers across the board. Sales volumes for the month of June exceeded last June by five-percent and stood almost 20-percent higher than the historic 10-year average.
A growing population base and strong employment numbers have resulted in a swelling pool of prospective buyers who are competing for limited inventory. New listings are on the rise – up six percent year over year – but that’s not nearly enough to quench the thirst of buyers. To put it another way, inventory is 50-percent below historic averages, creating the tightest supply we’ve ever seen. The end result is higher prices.
The benchmark went up five-percent in both Regina and Saskatoon in June – hitting new records. But other centres saw even larger gains: Estevan posted the strongest benchmark growth rising 13-percent in the month, North Battleford rose 10-percent and Meadow Lake went up six-percent. Melfort was the only major centre that saw a lower benchmark.
