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Market Watch >> December 2022

SASKATCHEWAN CONTINUES TO FARE BETTER THAN MANY REGIONS ACROSS THE COUNTRY January 4, 2023 For immediate release: Record sales of apartment condominiums were not enough to offset declining sales in detached homes, resulting in a 12 per cent decline in residential sales in 2022. While sales have eased relative to last year, a record year, the 15,334 recorded sales in 2022 were 15 per cent higher than long-term averages. As many markets across the country are experiencing a strong shift in demand, Saskatchewan continues to report sales that are stronger than pre-pandemic levels. There were 25,089 new listings in 2022, a seven per cent decline from the year prior and well below long-term trends. While the pace of inventory decline did ease over the second half of the year, 2022 inventory levels were 11 per cent below levels seen last year and 25 per cent below 10-year averages. Much [...]

November 2022 Market Stats

INVENTORY LEVELS REMAIN OVER 25 PER CENT BELOW 10-YEAR AVERAGE December 6, 2022 For immediate release: There were 924 sales recorded across the province in November, a 32 per cent decline over last year’s record high. While sales continue to slow when compared to 2021, a record year, year-to-date activity remains over 16 per cent above long-term trends in the province. The ongoing pullback in new listings continues to be driven largely by homes priced below $500,000. While new listings improved in higher priced product, the decline in sales and new listings has prevented inventory gains. For the second consecutive month, inventory levels remain over 25 per cent below 10-year averages. “Higher lending rates and inflationary pressures are impacting housing demand across the country,” said Saskatchewan REALTORS® Association CEO Chris Guérette. “That said, our market remains resilient, and the biggest concern is a lack of supply in homes priced [...]

2023 Board of Director Elections >> Results Are In

Election Results Are In     The Saskatchewan REALTORS® Association is happy to announce the addition of two new Directors to join the Board in 2023. The Directors-Elect listed above will join ten sitting Directors currently serving on the Board, effective January 1, 2023.   2023 Board of Directors: • Jeff Stewart, Chairperson (Saskatoon Region) • Jeremy Cossette, Chairperson-Elect (Regina Region) • Avril Reifferscheid, Past Chairperson (Saskatchewan Region) • Donna Nyeste (Saskatchewan Region) – Returning Incumbent • Kathy Fehr-Yung (Saskatchewan Region) – Returning Incumbent • Lane Boghean (Regina Region) • Mike Duggleby (Regina Region) • Caitlyn Gallagher (Regina Region) • Angela Porrelli (Saskatoon Region) • Lori-Dawn Stevenson (Saskatchewan Region) • Tarra Unterschute (Saskatoon Region) – Newly Elected • Randy Singler (Saskatoon Region) – Newly Elected Thank you to all candidates who put their names forward in this election. You have made our governance stronger, and we thank you for [...]

Saskatchewan REALTORS® Give Back to Moose Jaw Transition House

November 17, 2022 For immediate release: REALTORS® in Moose Jaw, Saskatchewan came together on November 17, 2022 to donate funds to the Moose Jaw Transition House as part of REALTORS Care® Week in Saskatchewan. The Moose Jaw Transition House provides key community programs that work toward ending the cycle of abuse and violence within the Moose Jaw community. Their vision is to provide safety for the present and empowerment for the future, achieving this through offering emergency shelter, support, advocacy, education, and referrals. “As REALTORS®, we recognize the importance that key organizations like the Moose Jaw Transition House have in supporting our communities,” said Saskatchewan REALTORS Care® Committee Chairperson, Justus Smith. “We are grateful for the shelter services they provide the Moose Jaw region and were thrilled to donate to this worthy cause.” Over that last 10 years, there has been an average of 55 homes sold each month [...]

Provincial Government Proclaims REALTORS® Week in Saskatchewan

November 14, 2022 For immediate release: For the first time in the province’s history, the Government of Saskatchewan has proclaimed November 14-20, 2022, as REALTORS® Week in Saskatchewan. REALTORS® are hands-on community leaders that contribute to the multi-billion-dollar real estate industry. As the province’s second-largest sector by GDP, real estate plays a crucial role in ensuring we have a growing and prosperous economy in Saskatchewan. With each home sale producing approximately $53,000 in additional spinoffs across multiple sectors of the economy, our members are significant contributors to our province every day. “As REALTORS®, we value the collaborative relationship we have with our provincial government on numerous files that help build strong Saskatchewan communities,” said Saskatchewan REALTORS® Association Chairperson Avril Reifferscheid. “We thank the Government of Saskatchewan for recognizing REALTORS® Week and the importance of our profession to the Saskatchewan economy.” REALTORS® Week in Saskatchewan will coincide with REALTORS Care® [...]

October 2022 Market Stats

INVENTORY LEVELS 25 PER CENT BELOW 10-YEAR AVERAGE November 3, 2022 For immediate release: There were 1,144 units sold across the province in October, a year-over-year decline of 12.3 per cent. While sales continue to ease relative to 2021, a record year, October sales data reflects a year-over-year increase of 1.7 per cent when compared with 10-year averages. The pullback in sales was met with a reduction in new listings, resulting in lower-than-average inventories for this time of year. The monthly decline in sales was enough to cause further gains in the months of supply. With nearly six months of supply in the province, the market continues to return to more balanced conditions, but it is important to note that inventory levels are still over 25 per cent below the 10-year average. “While our market continues to fare better than many others across the country, we are feeling the [...]