Resale activity in Saskatchewan’s residential market is going to approach record-setting territory this year. That comes from a new report prepared by the economics team at RBC Royal Bank.
They are calling for 17,400 units to change hands this year, just 100 off the record established in 2021. And next year we should establish a new record at 17,600.
The forecast for this year represents a 6.5% increase over 2024 which jumped nearly 9-percent in 2023. In other words, transaction volume has risen 15-percent over that two-year period. Further, we should expect an additional increase of 1.1-percent in 2026.
All this demand is having an impact on prices but the gains are relatively modest. The bank forecasts the average or benchmark price will rise less than 3-percent this year and a similar amount next year.
But this is also where we differentiate ourselves from the rest of the country. That average or Benchmark Saskatchewan price will be around $370,000 this year and $380,000 next year while the national benchmark is now projected to be $830,000 this year.
