Saskatchewan’s residential real estate market is maintaining its strength at a time when a lot of major cities across the country are experiencing a softening of demand.
We have just seen November’s numbers on sales activity tracked by the provincial realtors’ association showing a bit of levelling out in some cities while others are feeling robust volume and pricing.
The one change they’ve noted is a slight rise in inventory and a modest decline in the number of transactions which lowered the province-wide benchmark price by $2,000 to $360,000 but nothing like the five-percent drops in centres such as Toronto.
We still have seven cities where prices rose by double digits last month, led by Melville with a 20-percent increase. Although the provincial benchmark dropped last month, it is still higher than this time a year ago.
The Association says activity is still well above the ten-year average, pushing the Saskatoon benchmark price $1,000 higher to $421,000. In Regina, it fell $5,000 to just under $330,000.
