The number of houses for sale in Saskatchewan cities is starting to fall and that has the effect of raising prices.
As we enter the fourth quarter of the year, the monthly tally of residential real estate transactions prepared by the provincial realtors association is starting to show some trends. And in broad terms, it remains a sellers’ market with lower inventory due to a reduction in new listings pushing prices upward – slightly in most cases – but upward nonetheless.
The organization has developed what it calls a benchmark price to provide some insight into emerging trends. Average home prices on a year-to-date basis are up across the board but these can be affected by a few large or small transactions so they came up with the benchmark to take some of the variability out of the reporting.
What that shows is every city except Estevan has seen prices move up this year and Estevan is down only one percent. The biggest gains were posted in Yorkton followed by Melfort and Melville – up more than 10-percent compared to the same time last year.