Saskatchewan Real Estate Finishes 2020 on a High

 

January 06, 2021

For immediate release:

MediaRelease-2021-01-06

The Saskatchewan real estate market had another strong month and ended 2020 at levels not seen since 2014. Across the province, sales were up over 58% from last December, going from 590 to 935, new listings were up close to 13%, going from 1,005 to 1,132, and the median sale price was up over 1%, going from $253,750 to $257,500. Inventories were also down in all 19 markets that the SRA tracks.

Despite increased restrictions coming into effect in December to help reduce the rising spread of COVID throughout the province, the market continued to show considerable strength. “We’d already reached over 33% of last December’s sales in the first week of this December,” said SRA Economic Analyst Chris Gbekorbu, “so I figured we’d have another strong month to finish off the year.”

Median sales prices were up (or flat) in 11 of the 19 markets that the SRA tracks (with Melfort and Yorkton seeing the strongest declines while Moose Jaw and the Moose Jaw region saw the greatest increases), while the number of sales were up in all 19 markets.

It’s been a crazy year for real estate across the country. With large-scale lockdowns in place in March and April, many analysts expected real estate to suffer. But that clearly hasn’t been the case. “2020 started off about as strong as 2019, and then the pandemic hit, and as expected, the market suffered” said Gbekorbu. But with the safety protocols that the SRA put in place to help protect the public while buying and selling real estate, by the end of June, sales had returned to their 2019 levels, despite two months of virtually no activity.

“Although it’s still too early to tell if we’ve got a new trend forming, COVID has certainly changed the features that people currently want in their homes and spaces. And as a result, people have been eager to buy homes that meet their new needs.”

For the year, sales were up an average of 24.5% across the province and up in all markets that the SRA tracks except for Melfort (a drop of 19.0%) and the Melfort region (a drop of 1.7%). Weyburn saw the smallest increase in yearly sales at 6.7%, while Estevan saw the largest increase in sales at 62.4%. New listings were down an average of 5.8% across the province in 2020, with Swift Current seeing a modest drop of 0.7%, and Weyburn seeing the largest drop at 13.6%.

Although median prices increased an average of 1.2% across the province over the year, there was considerably more variability in prices. Only nine markets saw a price increase, with Moose Jaw seeing the largest yearly price increase at 7.7%, while Melfort saw the largest yearly price drop at 14.1%. The variation in price changes that we’ve seen across the province reflect the fact that real estate is highly local.

 Saskatoon

Sales in Saskatoon were up 35.0%, going from 203 in December 2019 to 274 in December 2020, and up 41.5% in the overall region, going from 258 to 365. In Saskatoon, sales were 32.1% above the 5-year average (and 33.5% above the 10-year average), while in the larger region, sales were 33.8% above the 5-year average (and 32.3% above the 10-year average). Year-to-Date (YTD) sales in Saskatoon rose 18.2% over last year, increasing from 3,614 to 4,272, while YTD sales in the larger region rose 23.0%, going from 4,833 to 5,945.

Sales volume was up 39.6% in the city, going from $67.8M to $94.6M in 2020 (34.5% above the 5-year average, and 35.0% above the 10-year average). YTD sales volume in the city was $1,471.2M, an increase of 22.8% from last year. In the region, sales volume was up 28.4%, going from $1,523.0M to $1,955.5M (34.5% above the 5-year average and 33.5% above the 10-year average). YTD sales volume increased 28.4% in the region, rising from $1,523.0M in 2019 to $1,955.5M in 2020.

In Saskatoon, the number of new listings in December 2020 rose 14.9%, going from 302 to 347 (3.6% above the 5-year average and 5.9% above the 10-year average), while in the region, new listings rose 10.6% from 435 last year to 481 this year (1.4% below the 5-year average and 2.6% above the 10-year average). YTD new listings in the city fell 3.0%, going from 7,745 to 7,514, while in the larger region, the number of new listings to date fell 5.7%, going from 11,309 to 10,660. Active listings fell 24.0% in Saskatoon (down from 1,329 to 1,010) and fell 27.9% in the region (down from 2,538 to 1,831).

Inventory in Saskatoon stood at 3.7 months (which is 43.7% below the level last year and 47.7% below the 5-year average), while the sales to listing ratio was 79.0%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 5.0 months (which is 49.0% below the level last year and 47.7% below the 5-year average), while the sales to listing ratio was 75.9%, suggesting that market conditions favour sellers.

Homes in Saskatoon stayed on the market an average of 48 days in December—down 26.2% from 65 days last year (but below the 5-year average of 55 days and below the 10-year average of 52 days). Homes in the region stayed on the market longer than homes in the city at 57 days on average in 2020, but also down from an average of 67 days last year (and 10.7% below the 5-year average).

Median home prices in Saskatoon went from $316,635 to $333,000 (an increase of 5.2%) and were approximately 2.3% above the 5-year and 2.1% above the 10-year average median price. The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—is up 6.4% from $303,100 to $322,400. Year-to-date, the median home price in Saskatoon was $329,846 which is 3.2% above the $319,720 price from the same time last year. Median home prices in the region went from $309,450 to $318,000 (an increase of 2.8%) and were approximately 1.3% above the 5-year and 1.5% above the 10-year average median price. Year-to-date, the median home price in the region was $313,956 which is 3.8% above the $302,462 price from the same time last year.

 Regina

Sales in Regina were up 44.9%, going from 138 in December 2019 to 200 in December 2020, and up 48.2% in the overall region, going from 164 to 243. In Regina, sales were 43.9% above the 5-year average (and 32.0% above the 10-year average), while in the larger region, sales were 47.1% above the 5-year average (and 38.7% above the 10-year average). Year-to-Date (YTD) sales in Regina rose 17.0% over last year, increasing from 2,594 to 3,036, while YTD sales in the larger region rose 22.0%, going from 3,081 to 3,758.

Sales volume was up 45.7% in the city, going from $38.2M to $55.6M in 2020 (36.7% above the 5-year average, and 23.4% above the 10-year average). YTD sales volume in the city was $926.8M, an increase of 18.5% from last year. In the region, sales volume was up 23.7%, going from $925.2M to $1,144.3M (42.9% above the 5-year average and 32.6% above the 10-year average). YTD sales volume increased 23.7% in the region, rising from $925.2M in 2019 to $1,144.3M in 2020.

In Regina, the number of new listings in December 2020 rose 48.4%, going from 157 to 233 (17.8% above the 5-year average and 17.6% above the 10-year average), while in the region, new listings rose 42.6% from 195 last year to 278 this year (13.7% below the 5-year average and 14.5% above the 10-year average). YTD new listings in the city fell 1.6%, going from 5,080 to 4,997, while in the larger region, the number of new listings to date fell 3.1%, going from 6,428 to 6,227. Active listings fell 23.2% in Regina (down from 1,179 to 905) and fell 27.5% in the region (down from 1,624 to 1,177).

Inventory in Regina stood at 4.5 months (which is 47.0% below the level last year and 46.5% below the 5-year average), while the sales to listing ratio was 85.8%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 4.8 months (which is 51.1% below the level last year and 50.9% below the 5-year average), while the sales to listing ratio was 87.4%, suggesting that market conditions favour sellers.

Homes in Regina stayed on the market an average of 58 days in December—down 18.3% from 71 days last year (but below the 5-year average of 62 days and above the 10-year average of 53 days). Homes in the region stayed on the market longer than homes in the city at 64 days on average in 2020, but also down from an average of 76 days last year (and 5.3% below the 5-year average).

Median home prices in Regina went from $266,104 to $271,000 (an increase of 1.8%) and were approximately 5.5% below the 5-year and 6.3% below the 10-year average median price. The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—is up 6.5% from $267,300 to $284,700. Year-to-date, the median home price in Regina was $289,340 which is 1.1% above the $286,230 price from the same time last year. Median home prices in the region went from $265,000 to $274,900 (an increase of 3.7%) and were approximately 3.4% below the 5-year and 3.7% below the 10-year average median price. Year-to-date, the median home price in the region was $287,575 which is 1.2% above the $284,208 price from the same time last year.

 Melfort

Sales in Melfort were up 400.0%, going from 1 in December 2019 to 5 in December 2020, and up 162.5% in the overall region, going from 8 to 21. In Melfort, sales were 56.2% above the 5-year average (and 16.3% above the 10-year average), while in the larger region, sales were 54.4% above the 5-year average (and 57.9% above the 10-year average). Year-to-Date (YTD) sales in Melfort fell 19.0% over last year, decreasing from 79 to 64, while YTD sales in the larger region fell 1.7%, going from 234 to 230.

Sales volume was up 220.1% in the city, going from $0.2M to $0.8M in 2020 (35.0% above the 5-year average, and 6.3% above the 10-year average). YTD sales volume in the city was $12.6M, a decrease of 20.5% from last year. In the region, sales volume was down 6.1%, going from $38.6M to $36.3M (44.2% above the 5-year average and 44.7% above the 10-year average). YTD sales volume decreased 6.1% in the region, falling from $38.6M in 2019 to $36.3M in 2020.

In Melfort, the number of new listings in December 2020 rose 0.0%, going from 5 to 5 (3.8% below the 5-year average and 5.7% below the 10-year average), while in the region, new listings rose 53.8% from 13 last year to 20 this year (31.6% below the 5-year average and 29.0% above the 10-year average). YTD new listings in the city fell 11.4%, going from 140 to 124, while in the larger region, the number of new listings to date fell 9.4%, going from 489 to 443. Active listings fell 10.0% in Melfort (down from 50 to 45) and fell 17.8% in the region (down from 219 to 180).

Inventory in Melfort stood at 9.0 months (which is 82.0% below the level last year and 64.8% below the 5-year average), while the sales to listing ratio was 100.0%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 8.6 months (which is 68.7% below the level last year and 49.7% below the 5-year average), while the sales to listing ratio was 105.0%, suggesting that market conditions favour sellers.

Homes in Melfort stayed on the market an average of 105 days in December—up 47.9% from 71 days last year (and above the 5-year average of 72 days and above the 10-year average of 77 days). Homes in the region stayed on the market longer than homes in the city at 140 days on average in 2020, but also up from an average of 98 days last year (and 25.2% above the 5-year average).

Median home prices in Melfort went from $244,000 to $170,000 (a decrease of 30.3%) and were approximately 8.0% below the 5-year and 1.9% below the 10-year average median price. Year-to-date, the median home price in Melfort was $183,229 which is 14.1% below the $213,238 price from the same time last year. Median home prices in the region went from $139,000 to $130,000 (a decrease of 6.5%) and were approximately 3.6% below the 5-year and 12.7% below the 10-year average median price. Year-to-date, the median home price in the region was $139,719 which is 5.1% below the $147,215 price from the same time last year.

 Moose Jaw

Sales in Moose Jaw were up 122.2%, going from 18 in December 2019 to 40 in December 2020, and up 75.0% in the overall region, going from 28 to 49. In Moose Jaw, sales were 62.6% above the 5-year average (and 63.9% above the 10-year average), while in the larger region, sales were 51.2% above the 5-year average (and 51.7% above the 10-year average). Year-to-Date (YTD) sales in Moose Jaw rose 10.5% over last year, increasing from 468 to 517, while YTD sales in the larger region rose 21.0%, going from 576 to 697.

Sales volume was up 216.6% in the city, going from $3.5M to $11.2M in 2020 (95.4% above the 5-year average, and 102.2% above the 10-year average). YTD sales volume in the city was $123.2M, an increase of 13.3% from last year. In the region, sales volume was up 23.3%, going from $123.4M to $152.2M (89.8% above the 5-year average and 98.1% above the 10-year average). YTD sales volume increased 23.3% in the region, rising from $123.4M in 2019 to $152.2M in 2020.

In Moose Jaw, the number of new listings in December 2020 rose 13.2%, going from 38 to 43 (2.9% above the 5-year average and 6.4% above the 10-year average), while in the region, new listings were flat at 60 (1.0% below the 5-year average and 2.9% above the 10-year average). YTD new listings in the city fell 12.2%, going from 982 to 862, while in the larger region, the number of new listings to date fell 9.2%, going from 1,408 to 1,279. Active listings fell 30.3% in Moose Jaw (down from 231 to 161) and fell 21.2% in the region (down from 448 to 353).

Inventory in Moose Jaw stood at 4.0 months (which is 68.6% below the level last year and 61.8% below the 5-year average), while the sales to listing ratio was 93.0%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 7.2 months (which is 55.0% below the level last year and 48.8% below the 5-year average), while the sales to listing ratio was 81.7%, suggesting that market conditions favour sellers.

Homes in Moose Jaw stayed on the market an average of 73 days in December—down 7.6% from 79 days last year (and above the 5-year average of 72 days and above the 10-year average of 68 days). Homes in the region stayed on the market longer than homes in the city at 87 days on average in 2020, but also down from an average of 101 days last year (and 6.9% above the 5-year average).

Median home prices in Moose Jaw went from $166,450 to $269,250 (an increase of 61.8%) and were approximately 36.6% above the 5-year and 31.8% above the 10-year average median price. Year-to-date, the median home price in Moose Jaw was $222,454 which is 7.7% above the $206,596 price from the same time last year. Median home prices in the region went from $156,250 to $247,500 (an increase of 58.4%) and were approximately 36.0% above the 5-year and 36.0% above the 10-year average median price. Year-to-date, the median home price in the region was $192,771 which is 0.0% below the $192,808 price from the same time last year.

 North Battleford

Sales in North Battleford were up 300.0%, going from 6 in December 2019 to 24 in December 2020, and up 104.0% in the overall region, going from 25 to 51. In North Battleford, sales were 84.6% above the 5-year average (and 80.5% above the 10-year average), while in the larger region, sales were 71.1% above the 5-year average (and 57.9% above the 10-year average). Year-to-Date (YTD) sales in North Battleford rose 48.0% over last year, increasing from 173 to 256, while YTD sales in the larger region rose 46.4%, going from 474 to 694.

Sales volume was up 297.2% in the city, going from $1.3M to $5.1M in 2020 (88.7% above the 5-year average, and 94.2% above the 10-year average). YTD sales volume in the city was $52.0M, an increase of 43.1% from last year. In the region, sales volume was up 54.9%, going from $93.4M to $144.7M (91.1% above the 5-year average and 78.4% above the 10-year average). YTD sales volume increased 54.9% in the region, rising from $93.4M in 2019 to $144.7M in 2020.

In North Battleford, the number of new listings in December 2020 rose 6.2%, going from 16 to 17 (20.6% below the 5-year average and 14.1% below the 10-year average), while in the region, new listings fell 10.6% from 66 last year to 59 this year (9.5% above the 5-year average and 5.9% below the 10-year average). YTD new listings in the city fell 9.5%, going from 484 to 438, while in the larger region, the number of new listings to date fell 9.9%, going from 1,521 to 1,370. Active listings fell 33.9% in North Battleford (down from 180 to 119) and fell 24.4% in the region (down from 714 to 540).

Inventory in North Battleford stood at 5.0 months (which is 83.5% below the level last year and 67.1% below the 5-year average), while the sales to listing ratio was 141.2%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 10.6 months (which is 62.9% below the level last year and 54.9% below the 5-year average), while the sales to listing ratio was 86.4%, suggesting that market conditions favour sellers.

Homes in North Battleford stayed on the market an average of 72 days in December—up 89.5% from 38 days last year (but below the 5-year average of 74 days and below the 10-year average of 73 days). Homes in the region stayed on the market longer than homes in the city at 93 days on average in 2020, but also down from an average of 109 days last year (and 12.8% below the 5-year average).

Median home prices in North Battleford went from $210,000 to $197,500 (a decrease of 6%) and were approximately 1.1% below the 5-year and 2.7% above the 10-year average median price. Year-to-date, the median home price in North Battleford was $185,371 which is 4.7% below the $194,438 price from the same time last year. Median home prices in the region went from $185,400 to $195,000 (an increase of 5.2%) and were approximately 10.9% above the 5-year and 9.4% above the 10-year average median price. Year-to-date, the median home price in the region was $180,315 which is 2.3% above the $176,262 price from the same time last year.

Prince Albert

Sales in Prince Albert were up 169.2%, going from 13 in December 2019 to 35 in December 2020, and up 166.7% in the overall region, going from 21 to 56. In Prince Albert, sales were 71.6% above the 5-year average (and 52.2% above the 10-year average), while in the larger region, sales were 83% above the 5-year average (and 75.0% above the 10-year average). Year-to-Date (YTD) sales in Prince Albert rose 20.8% over last year, increasing from 336 to 406, while YTD sales in the larger region rose 22.9%, going from 603 to 741.

Sales volume was up 199.0% in the city, going from $2.4M to $7.1M in 2020 (64.2% above the 5-year average, and 39.2% above the 10-year average). YTD sales volume in the city was $88.4M, an increase of 18.3% from last year. In the region, sales volume was up 30.8%, going from $133.2M to $174.3M (78.4% above the 5-year average and 70.7% above the 10-year average). YTD sales volume increased 30.8% in the region, rising from $133.2M in 2019 to $174.3M in 2020.

In Prince Albert, the number of new listings in December 2020 fell 5.9%, going from 34 to 32 (3.9% above the 5-year average and 8.5% above the 10-year average), while in the region, new listings rose 5.9% from 51 last year to 54 this year (3.8% below the 5-year average and 5.9% above the 10-year average). YTD new listings in the city fell 5.3%, going from 715 to 677, while in the larger region, the number of new listings to date fell 8.0%, going from 1,456 to 1,340. Active listings fell 18.3% in Prince Albert (down from 246 to 201) and fell 29.0% in the region (down from 579 to 411).

Inventory in Prince Albert stood at 5.7 months (which is 69.7% below the level last year and 63.9% below the 5-year average), while the sales to listing ratio was 109.4%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 7.3 months (which is 73.4% below the level last year and 69.2% below the 5-year average), while the sales to listing ratio was 103.7%, suggesting that market conditions favour sellers.

Homes in Prince Albert stayed on the market an average of 92 days in December—up 33.3% from 69 days last year (and above the 5-year average of 90 days and below the 10-year average of 93 days). Homes in the region stayed on the market for less time than homes in the city at 90 days on average in 2020, but also down from an average of 109 days last year (and 8.4% below the 5-year average).

Median home prices in Prince Albert were flat at $175,000 and were approximately 10.3% below the 5-year and 16.4% below the 10-year average median price. Year-to-date, the median home price in Prince Albert was $206,903 which is 0.4% below the $207,700 price from the same time last year. Median home prices in the region went from $195,000 to $180,500 (a decrease of 7.4%) and were approximately 9.2% below the 5-year and 13.0% below the 10-year average median price. Year-to-date, the median home price in the region was $213,971 which is 3.7% above the $206,271 price from the same time last year.

 Swift Current

Sales in Swift Current were up 115.4%, going from 13 in December 2019 to 28 in December 2020, and up 46.4% in the overall region, going from 28 to 41. In Swift Current, sales were 66.7% above the 5-year average (and 79.5% above the 10-year average), while in the larger region, sales were 43.4% above the 5-year average (and 51.3% above the 10-year average). Year-to-Date (YTD) sales in Swift Current rose 29.2% over last year, increasing from 219 to 283, while YTD sales in the larger region rose 24.6%, going from 391 to 487.

Sales volume was up 103.0% in the city, going from $4.2M to $8.6M in 2020 (75.5% above the 5-year average, and 99.8% above the 10-year average). YTD sales volume in the city was $72.6M, an increase of 30.1% from last year. In the region, sales volume was up 27.4%, going from $79.2M to $100.9M (69.9% above the 5-year average and 91.0% above the 10-year average). YTD sales volume increased 27.4% in the region, rising from $79.2M in 2019 to $100.9M in 2020.

In Swift Current, the number of new listings in December 2020 rose 10.0%, going from 20 to 22 (6.8% above the 5-year average and 14.6% above the 10-year average), while in the region, new listings rose 37.1% from 35 last year to 48 this year (10.1% below the 5-year average and 16.2% above the 10-year average). YTD new listings in the city fell 0.7%, going from 543 to 539, while in the larger region, the number of new listings to date fell 1.9%, going from 1,098 to 1,077. Active listings fell 24.4% in Swift Current (down from 205 to 155) and fell 20.2% in the region (down from 496 to 396).

Inventory in Swift Current stood at 5.5 months (which is 64.9% below the level last year and 48.0% below the 5-year average), while the sales to listing ratio was 127.3%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 9.7 months (which is 45.5% below the level last year and 37.4% below the 5-year average), while the sales to listing ratio was 85.4%, suggesting that market conditions favour sellers.

Homes in Swift Current stayed on the market an average of 73 days in December—down 26.3% from 99 days last year (but below the 5-year average of 81 days and above the 10-year average of 71 days). Homes in the region stayed on the market for less time than homes in the city at 69 days on average in 2020, but also down from an average of 122 days last year (and 27.2% below the 5-year average).

Median home prices in Swift Current went from $300,000 to $237,500 (a decrease of 20.8%) and were approximately 14.9% below the 5-year and 4.4% below the 10-year average median price. Year-to-date, the median home price in Swift Current was $233,212 which is 0.1% above the $232,867 price from the same time last year. Median home prices in the region went from $174,000 to $232,000 (an increase of 33.3%) and were approximately 8.4% above the 5-year and 18.5% above the 10-year average median price. Year-to-date, the median home price in the region was $182,271 which is 0.7% below the $183,608 price from the same time last year.

Yorkton

Sales in Yorkton were up 20.0%, going from 10 in December 2019 to 12 in December 2020, and up 60.9% in the overall region, going from 46 to 74. In Yorkton, sales were 11.1% above the 5-year average (and 4.8% below the 10-year average), while in the larger region, sales were 54.8% above the 5-year average (and 56.8% above the 10-year average). Year-to-Date (YTD) sales in Yorkton rose 31.4% over last year, increasing from 191 to 251, while YTD sales in the larger region rose 35.0%, going from 705 to 952.

Sales volume was down 17.1% in the city, going from $2.7M to $2.2M in 2020 (4.8% below the 5-year average, and 24.5% below the 10-year average). YTD sales volume in the city was $53.6M, an increase of 20.7% from last year. In the region, sales volume was up 33.4%, going from $109.7M to $146.3M (43.9% above the 5-year average and 43.4% above the 10-year average). YTD sales volume increased 33.4% in the region, rising from $109.7M in 2019 to $146.3M in 2020.

In Yorkton, the number of new listings in December 2020 fell 30.8%, going from 13 to 9 (41.6% below the 5-year average and 44.8% below the 10-year average), while in the region, new listings fell 20.7% from 92 last year to 73 this year (10.5% below the 5-year average and 2.1% below the 10-year average). YTD new listings in the city fell 11.7%, going from 444 to 392, while in the larger region, the number of new listings to date fell 6.9%, going from 1,943 to 1,808. Active listings fell 37.6% in Yorkton (down from 157 to 98) and fell 23.3% in the region (down from 906 to 695).

Inventory in Yorkton stood at 8.2 months (which is 48.0% below the level last year and 35.3% below the 5-year average), while the sales to listing ratio was 133.3%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 9.4 months (which is 52.3% below the level last year and 49.8% below the 5-year average), while the sales to listing ratio was 101.4%, suggesting that market conditions favour sellers.

Homes in Yorkton stayed on the market an average of 85 days in December—down 51.7% from 176 days last year (but below the 5-year average of 104 days and below the 10-year average of 95 days). Homes in the region stayed on the market longer than homes in the city at 112 days on average in 2020, but also down from an average of 143 days last year (and 3.1% below the 5-year average).

Median home prices in Yorkton went from $243,900 to $175,000 (a decrease of 28.2%) and were approximately 15.3% below the 5-year and 19.4% below the 10-year average median price. Year-to-date, the median home price in Yorkton was $205,062 which is 5.3% below the $216,544 price from the same time last year. Median home prices in the region went from $115,000 to $125,000 (an increase of 8.7%) and were approximately 9.7% below the 5-year and 12.3% below the 10-year average median price. Year-to-date, the median home price in the region was $130,496 which is 1.6% above the $128,396 price from the same time last year.

 South East Saskatchewan

Sales in south east Saskatchewan were up 200.0%, going from 12 in December 2019 to 36 in December 2020, up 81.8% from the 5-year average (and 39.5% above the 10-year average). The total number of sales in Estevan rose 225.0% (going from 4 to 13) and rose 400.0% in Weyburn (going from 2 to 10). Sales in Estevan were 116.7% above the 5-year average (and 51.2% above the 10-year average), while they were 51.5% above the 5-year average (and 19.0% above the 10-year average) in Weyburn. Year-to-Date (YTD) sales in the overall region were up 38.5% over last year, going from 12 to 36, and with YTD sales in Estevan rising from 85 to 138, and rising 6.7% in Weyburn, going from 120 to 128.

Sales volume in the region rose 206.5%, going from $2.0M to $6.1M in 2020 (67.2% above the 5-year average, and 10.3% above the 10-year average). Sales volume in Estevan rose 53.7%—$18.7M to $28.8M in 2020 (90.0% above the 5-year average and 9.5% below the 10-year average), while it increased 418.6% in Weyburn—$0.3M to $1.8M (23.7% above the 5-year average and 11.2% below the 10-year average). YTD sales volume in the region rose from $71.0M to $92.9M in 2020 (an increase of 31.0%), with Estevan seeing a 53.7% rise and Weyburn seeing a 6.7% rise in the YTD sales volume.

The number of new listings in south east Saskatchewan fell 1.7%, going from 58 to 57 (8.7% below the 5-year average and 7.9% below the 10-year average). The number of new listings in Estevan were up from 14 last year to 15 this year (a rise of 7.1%), while in Weyburn, new listings decreased from 8 last year to 5 this year (a fall of 37.5%). Active listings were down 22.7% across the region (779 in 2019 to 602 in 2020), down 20.3% in Estevan (148 to 118), and down 29.7% in Weyburn (172 to 121).

Inventory in south east Saskatchewan stood at 16.7 months (which is 74.2% below the level last year and 61.6% below the 5-year average), while the sales to listing ratio was 63.2%, suggesting that market conditions favour sellers. Inventory in Estevan stood at 9.1 months (which is 75.5% below the level last year and 78.5% below the 5-year average), while the sales to listing ratio was 86.7%, suggesting that market conditions favour sellers. Inventory in Weyburn stood at 12.1 months (which is 85.9% below the level last year and 64.9% below the 5-year average), while the sales to listing ratio was 200.0%, suggesting that market conditions favour sellers.

In 2020, homes stayed on the market an average of 105 days in south east Saskatchewan, up 43.8% from 73 days last year (and 7.1% above the 5-year average of 98 days and 10.3% above the 10-year average of 95 days). Homes in Estevan stayed on the market for less time than homes in the larger region at 98 days on average in 2020, but also up from an average of 88 days last year (and 10.9% above the 5-year average). Homes in Weyburn stayed on the market for less time than homes in the larger region at 95 days on average in 2020, but also down from an average of 148 days last year (and 13.2% below the 5-year average).

Median home prices in the region rose 2.0%, going from $147,000 to $150,000 (9.7% below the 5-year average median price of $166,200 and 23.3% below the 10-year average median price of $195,600). Year-to-date, the median home price in south east Saskatchewan was $169,854 which is 10.6% below the $190,042 price from the same time last year. Median home prices in Estevan went from $150,000 to $130,000 (a decrease of 13.3%) and were approximately 13.2% below the 5-year and 40.4% below the 10-year average median price. Year-to-date, the median home price in the region was $197,146 which is 10.5% below the $220,350 price from the same time last year. Median home prices in Weyburn went from $169,750 to $164,250 (a decrease of 3.2%) and were approximately 13.9% below the 5-year and 19.3% below the 10-year average median price. Year-to-date, the median home price in the region was $208,996 which is 7.1% below the $225,062 price from the same time last year.

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For interviews and more information:

Samantha Krahn

Director of External & Government Relations

Saskatchewan REALTORS® Association

samantha@sra.ca

306.229.4048