Paul Martin commentary
Saskatchewan’s tight residential real estate market seems to be getting even tighter.
The monthly report on sales shows buyers were still hungry for a new property in April but they don’t have much in the way of choices. Normally, the spring time is when people begin to think about selling and offer their property up for sale but the number of listings isn’t meeting normal expectation.
Province-wide, sales were down four percent last month when compared to a year ago with supply being the defining factor: simply put there might have more sales if there was product available as buyer demand is not showing any signs of waning. Inventory for sale is running roughly 50-percent behind traditional levels.
The upshot of this is that prices are going up.
Melville saw prices rise by 17-percent in the month. Yorkton was not far behind. In all, six communities – Martensville, Regina, Moose Jaw, Warman, North Battleford and Yorkton – set new benchmark price records in April, a development that is putting a dint in our claim that Saskatchewan is a place for affordable home ownership.
