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 [...]
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,” [...]
SASKATCHEWAN REPORTS STRONG JUNE SALES AS INVENTORY CHALLENGES CONTINUE July 6, 2023 For immediate release: There were 1,691 sales reported across the province in June, a year-over-year decline of six per cent. While year-over-year sales were down, Saskatchewan again reported sales levels well above long-term, 10-year historical averages. As seen in prior months, inventory levels remain a significant challenge in certain regions of the province. Despite a slight increase from last month, inventory levels were nine per cent below levels seen in the previous year and over 30 per cent below the 10-year average. Inventory challenges continue to impact the more affordable segment of the market, with homes priced below $300,000 reporting a 17 per cent decline in inventory in June. “While higher lending rates are impacting sales activity, continued employment growth and Saskatchewan’s relative affordability advantage are preventing a significant pullback in sales,” said Association CEO, Chris Guérette. [...]
We are excited to host the 2nd annual State of Real Estate Conference taking place on September 12, 2023, at the Queensbury Convention Centre in Regina! What can you expect from the conference? We are bringing together industry experts, thought leaders, and passionate individuals to dive into the topics that truly matter to the real estate landscape in our province. As Saskatchewan’s second-largest sector by GDP, real estate plays a pivotal role in driving a thriving and prosperous economy. We have carefully curated sessions that cater to both the residential and commercial real estate market, ensuring there’s something valuable for everyone in attendance. Additionally, we’ll delve into discussions surrounding growth and the future of our province, making this conference an indispensable event for anyone invested in the real estate sector. A preview of confirmed panelists include: MP Scott Aitchison, Shadow Minister of Housing, Diversity and Inclusion Her Worship Sandra [...]
MAY SALES ABOVE LONG-TERM TRENDS DESPITE PERSISTENT INVENTORY CHALLENGES June 5, 2023 For immediate release: There were 1,736 sales recorded across the province in May, resulting in a four per cent year-over-year decline. However, despite the year-over-year decline, sales levels were 20 per cent above long-term, 10-year averages. Stronger sales in May were possible due to recent monthly gains in new listings. While the seasonal boost in new listings also caused inventories to trend up over the last month, inventory levels remain lower than levels reported in the previous year. They are at their lowest level reported in May since 2008. While year-over-year inventory levels have improved for homes priced above $300,000, more was needed to offset the declines occurring in the lower price ranges. “Saskatchewan continues to benefit from a strong economy which is helping offset some of the impacts of higher lending rates, keeping sales activity above [...]
From May-August, the Saskatchewan REALTORS Care® Committee has assembled a provincial campaign called the Good Neighbour Campaign that celebrates the community and recognizes contributions and acts of kindness, big or small. Each nomination for a Good Neighbour will qualify for a weekly draw to win a $100 Fuel Card and also for a monthly Grand Prize Draw for a $500 Grocery Gift Card. To participate in the Good Neighbour Program, you can inquire with your REALTOR® OR click here to be redirected to the nomination form! Nominate your Good Neighbour TODAY!