MARKET WATCH >> OCTOBER 2023
STRONG SALES CONTINUE IN OCTOBER DESPITE PERSISTENT INVENTORY CHALLENGES November 6, 2023 For immediate release: Saskatchewan reported 1,259 sales in October, a year-over-year gain of 11 per cent and nearly 13 per cent above long-term, 10-year trends. Above-average October sales in the province can be attributed to gains in the detached, apartment and townhouse/row-style sectors. Despite year-to-date sales remaining slightly below levels experienced last year, Saskatchewan continues to report sales activity much stronger than the 10-year average. As seen in prior months, supply challenges continued to persist across many regions of the province in October. Inventory levels fell by over 15 per cent compared to last year and remain over 30 per cent below the 10-year average. Adjustments to sales and inventory levels, paired with declining new listings, resulted in the province reporting below five months of supply in October, a 23 per cent year-over-year decrease and over 40 [...]
SASKATCHEWAN REALTORS® ASSOCIATION BRINGS RESTB.AI AI-POWERED TOOLS TO ITS 1700 MEMBERS
October 31, 2023 For Immediate Release: The Saskatchewan REALTORS® Association (SRA) is delivering the latest AI-powered tools to its 1,700 members in Saskatchewan, Canada, provided by Restb.ai, the industry leader in artificial intelligence-powered computer vision technology in the North American real estate industry. Today’s announcement includes the successful implementation of several advanced computer vision tools that will allow Saskatchewan REALTORS® to upload a new listing in a fraction of the time it currently takes. The tools are fully integrated into Matrix™, the multiple listing service (MLS) software platform in Saskatchewan, powered by CoreLogic. For the general consumer’s interest, this feeds into the well-known and trusted REALTOR.ca consumer-facing website. The breakthrough AI tech tools now available include the automation of generative AI Tags. Restb.ai technology scans each photo uploaded by the REALTOR® into the MLS® System and automatically identifies a home's vital interior and exterior features. Realtors save significant time [...]
MARKET WATCH >> SEPTEMBER 2023
SASKATCHEWAN REPORTS STRONG SEPTEMBER SALES DESPITE LOWEST INVENTORY LEVELS SEEN SINCE 2009 October 5, 2023 For immediate release: Saskatchewan reported 1,295 sales across the province in September, a year-over-year gain of 2.5 per cent and 6.3 per cent above long-term, 10-year averages. While year-to-date sales have eased compared to last year, Saskatchewan continues to report sales well above long-term trends. Supply challenges continued across the province in September, as inventory levels were over 12 per cent lower than levels seen last year and nearly 32 per cent below the 10-year average. As inventories improved in higher-priced properties, much of the inventory decline is once again being driven by homes priced below $400,000, as the more affordable segment of the market remains highly competitive. “As seen in previous months, significant supply challenges continue to persist across Saskatchewan, specifically in the more affordable segment of our housing continuum,” noted Association CEO, [...]
Local Partnership to Provide Energy Efficiency Training for Saskatchewan Real Estate Professionals
October 4, 2023 FOR IMMEDIATE RELEASE: The City of Saskatoon and the Saskatchewan REALTORS® Association (SRA) are pleased to announce a new partnership to provide energy efficiency training for Saskatchewan real estate professionals, delivered by Saskatchewan-based consulting firm Airtight Engineering. The Getting Real About Home Energy program will guide agents through best-practice energy efficiency measures and their benefits - while providing insight into current energy codes and available incentive programs in Saskatchewan. According to the 2023 Canadian Home Builders Association (CHBA) Homebuyer Preference Survey, four of the top ten most desired features are energy-related, with “overall energy efficient home” among the top priorities for prospective homebuyers. “Energy efficiency is something homebuyers are frequently searching for, and we want our members to be confident when discussing this aspect with buyers and sellers. We’re thrilled to partner with the City of Saskatoon and Airtight Engineering to offer additional education to our members [...]
MARKET WATCH >> AUGUST 2023
RECORD SALES IN AUGUST, TIGHTEST MARKET CONDITIONS HEADING INTO SEPTEMBER SINCE 2007 September 6, 2023 For immediate release: Saskatchewan reported a record-high 1,631 sales in August, a year-over-year increase of 11 per cent and nearly 25 per cent above long-term, 10-year averages. Strong August sales were met with a pullback in new listings, contributing to a decrease in inventory levels for the month. As seen in prior months, the inventory decline was largely driven by homes priced below $400,000, as the more affordable segment of the market remains highly competitive. “Saskatchewan is once again reporting strong sales despite ongoing inventory challenges, inflationary pressures, and higher lending rates,” said Association CEO, Chris Guérette. “Higher interest rates are pushing more purchasers to seek out more affordable options in the market, and, as a result, we continue to experience significant supply challenges in the lower price ranges of our market. These persistent [...]
MARKET WATCH >> JULY 2023
STRONG SALES CONTINUE IN JULY DESPITE PERSISTENT INVENTORY CHALLENGES August 3, 2023 For immediate release: Saskatchewan reported 1,560 sales in July, a year-over-year increase of 9 per cent and nearly 13 per cent above long-term, 10-year averages. Much of the increase was driven by property priced below $300,000, as the more affordable segment of the market remains highly competitive. As seen in prior months, inventory levels remain a significant challenge in many areas of the province. Despite a slight increase from last month, inventory levels were 11 per cent below levels seen in the previous year and over 30 per cent below the 10-year average. While inventory challenges continue to impact the more affordable segment of the market, there have been slight inventory gains in properties priced above $300,000. “Higher lending rates continue to impact both buyers and sellers, with many consumers seeking more affordable options in our market,” [...]