MARKET WATCH >> MAY 2023
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 [...]
SASKATCHEWAN REALTORS CARE® COMMITTEE >> GOOD NEIGHBOUR CAMPAIGN
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!
MARKET WATCH >> APRIL 2023
SASKATCHEWAN SHIFTING TOWARDS MORE BALANCED CONDITIONS May 4, 2023 For immediate release: Saskatchewan reported 1,216 sales in April, down 21 per cent year-over-year and slightly below long-term, 10-year averages. Aligning with seasonal trends, sales, and new listings trended up above levels seen earlier this year. Although inventory levels experienced a 4 per cent year-over-year decline and remain over 30 per cent below 10-year trends, the adjustments in sales and new listings have resulted in the months of supply rising to nearly five months. “Our market continues to struggle with supply and has since the start of the pandemic,” said Association CEO Chris Guérette. “While inventory challenges remain a concern for us, recent trends point to potential supply relief. Should these trends persist, we may see more balanced conditions play out in the market in the second half of the year.” The provincial benchmark price reached $323,600 in April, up [...]
2022 REALTOR® of the Year >> Avril Reifferscheid
The 2022 SRA REALTOR® of the Year Award recipient is Avril Reifferscheid. Avril Reifferscheid is the Broker of Realty Executives serving Watrous and area. Avril was voted onto the Saskatchewan REALTORS® Association Board of Directors in 2020, serving as Chair in 2022. She led the organization through the period of “mastering the basics,” creating a solid organizational foundation for future momentum. Avril is a passionate industry leader who has been known to support her local community in both leadership and volunteer capacities. The purpose of this award is to recognize an active member who demonstrates outstanding leadership and dedication to the real estate industry through association involvement and community service.
2022 Harry Janzen Memorial Award Recipient >> Amy Hudacek
The Saskatchewan REALTORS® Association is pleased to announce that Amy Hudacek is the recipient of the 2022 Harry Janzen Memorial Award. Amy is an eXp Realty Ltd realtor serving Southeast Saskatchewan in both Farm and Residential. Amy has a large presence on social media with a focus on promoting professionalism in the Saskatchewan real estate industry. She is also known to promote the concept of community and is actively involved in her hometown’s sports initiatives. On behalf of the Saskatchewan REALTORS® Association, congratulations Amy, on your well-deserved award! The Harry Janzen Memorial Award is presented to a REALTOR® who has been in the industry for five years or less, who is a true professional in the eyes of the membership and the community, a member in good standing, and nominated by their peers. This individual projects a positive image for real estate, demonstrating a high level [...]
Market Watch >> March 2023
SASKATCHEWAN REMAINS RESILIENT AS INVENTORY CHALLENGES CONTINUE April 5, 2023 For immediate release: There were 1,213 sales recorded across the province in March, a 20 per cent year-over-year decline. Despite year-over-year sales declines, this level of sales is still stronger than pre-pandemic levels and nearly 10 per cent above long-term, 10-year trends. New listings decreased by over 17 per cent on a year-over-year basis and remain significantly below the 10-year average. In the first quarter of 2023, properties priced below $400,000 contributed to the largest decline in new listings. A reduction in new listings relative to sales resulted in further year-over-year declines in inventory levels, which remain over 30 per cent below long-term averages. “Higher lending rates continue to impact what buyers are able to purchase, which is creating tight conditions in the more affordable segment of our housing market,” said Association CEO Chris Guérette. “When paired with declining [...]