This province seems to be marching to a different drum than many other parts of the country. And it is not just on the political front.
The latest sales figures from the provincial realtors’ association are definitely showing a tale of two houses. In Ontario and BC where home prices are very high, sales activity began to drop in March as the threat of tariffs and a potential recession put the damper on buyers.
By contrast, Saskatchewan saw sales activity increase last month. And, at the same time, the level of inventory available for purchasers is shrinking, sitting 30-percent below the long-term average. In Saskatoon, for example, there was less than a month’s worth of inventory at the end of March.
When strong demand is coupled with shrinking supply, prices are going to rise.
The provincial benchmark price rose to nearly $354,000 at the end of March, up about $9,000 over February’s mark. On a localized basis, the benchmark rose to $416,000 in the very competitive Saskatoon market… a jump of $25,000 from a year ago.
