One quick way to see the impact of Saskatchewan’s rapid population growth in recent years is to look at the housing market. Volume is up and demand remains unabated.
July’s figures on residential property transactions have just been released and it shows virtually everything in ascension. The number of properties changing hands rose and prices went up almost everywhere as it remains a sellers’ market with the number of listings rising but not enough to get ahead. So that puts upward pressure on prices.
Officials say the number of listings and activity is well-above the ten-year average, demonstrating how the provincial economy and population base have grown over that period.
The new province-wide benchmark price for houses is roughly $345,000 but some centres, notably Saskatoon, are higher with the Bridge City now sporting a benchmark value of $406,000. Regina’s benchmark is almost $100,000 lower at $318,000.
And here’s one other stat that shows how much one project can change the economy….the provincial Real Estate Association is now tracking home sales in the Jansen region.
