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 [...]

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 [...]