April 2021 Media Release & Market Stats

The Saskatchewan real estate market is steadily building on the momentum from January and continues to outperform the market from last March. Across the province, there were 1,719 homes sold (up over 85% from last March and up 71.9% year-to-date, going from 2,208 to 3,795), new listings were up over 41% (and up 13.9% year-to-date, going from 1,936 to 2,205,) and the MLS® Home Price Index composite was up close to 9% (up 7.3% year-to-date, going from $255,800 to $278,400). Inventories were also down in 23 of the 24 markets that the SRA tracks. 

“We’ve never seen a March like this before” said Chris Gbekorbu, Economic Analyst. “In fact, we typically don’t see this level of sales until at least May, and until June of last year, we hadn’t seen this level of sales since May of 2014.” 

Strong demand combined with a shrinking number of homes for sale has helped place upward pressure on prices in most markets. The MLS® Home Price Index (HPI) composite was up in 13 of the 15 markets where these data are available (with Estevan and Weyburn declining while Meadow Lake and North Battleford saw the greatest increases), while the number of sales were up in 22 of 24 markets. 

“Although we continue to see supply shrink as inventory levels keep falling, the increase in new listings across most markets is very promising,” said Gbekorbu. With supply shrinking and demand continuing to outpace supply, new listings are important to keep the market growing. And as new listings kept falling in January and February, there was the potential for new listings to dry up and further reduce the supply of homes for sale. 

According to Gbekorbu, however, “people are still listing homes on the market and they still want to buy—sometimes leading to homes being sold within days of being listed.” As a result, the market remains strong and isn’t showing any signs of slowing down yet. 

The increased market activity has also allowed the SRA to partner with the Canadian Real Estate Association (CREA) to expand its coverage of the MLS® HPI tool to 15 markets across the province. The MLS® HPI gives a better indicator of price trends than average or median prices and gives REALTORS® an extra tool to help them develop more accurate pricing information for clients. 

Saskatoon and Region (including Martensville, Warman, and Humboldt) 

Sales were up 108.8% in Saskatoon (going from 273 to 570), up 113.3% in Martensville (going from 15 to 32), and up 115.4% in Warman (going from 13 to 28). In Humboldt, sales were up 240.0% (going from 5 to 17), while in the larger region, sales were up 102.1% (going from 380 to 768). Sales in Saskatoon were 72.9% above the 5-year average (and 66.4% above the 10-year average), 102.5% above the 5-year average (and 82.9% above the 10-year average) in 

Martensville, and 35.9% above the 5-year average (and 15.7% above the 10-year average) in Warman. In Humboldt, sales were 107.3% above the 5-year average (and 136.1% above the 10-year average), while in the larger region, sales were 70.7% above the 5-year average (and 65.2% above the 10-year average). Year-to-Date (YTD) sales in Saskatoon rose 66.2% over last year (increasing from 722 to 1,200), rose 47.4% in Martensville (increasing from 38 to 56), and rose 91.7% in Warman (increasing from 36 to 69). Year-to-Date (YTD) sales in Humboldt rose 130.8% over last year (increasing from 13 to 30), while YTD sales in the larger region rose 66.1% (going from 984 to 1,634). 

Sales volume was up 118.0% in the Saskatoon, going from $94.7M to $206.5M in 2021 (82.4% above the 5-year average, and 76.7% above the 10-year average). In Martensville, sales volume was up 113.1%, going from $4.8M to $10.2M (103.9% above the 5-year average, and 80.6% above the 10-year average) and in Warman, sales volume was up 122.3%, going from $5.1M to $11.4M (46.9% above the 5-year average, and 27.3% above the 10-year average). Sales volume was up 307.0% in Humboldt, going from $1.1M to $4.3M (118.4% above the 5-year average, and 150.0% above the 10-year average), while in the region, sales volume was up 114.4%, going from $124.9M to $267.8M (80.3% above the 5-year average, and 75.4% above the 10-year average). YTD sales volume in Saskatoon was $427.8M (an increase of 78.4% from last year), $18.5M in Martensville (an increase of 54.3% from last year), and $27.1M in Warman (an increase of 105.2% from last year). YTD sales volume in Humboldt was $7.3M (an increase of 180.9% from last year), while in the region, YTD sales volume was $556.9M (an increase of 80.5% from last year). 

In Saskatoon, the number of new listings in March 2021 rose 53.8%, going from 602 to 926 (23.3% above the 5-year average and 24.0% above the 10-year average). The number of new listings rose 94.1% in Martensville, going from 17 to 33 (1.8% below the 5-year average and 12.2% below the 10-year average) and rose 37.1% in Warman, going from 35 to 48 (5.7% above the 5-year average and 10.4% below the 10-year average). In Humboldt, the number of new listings rose 73.3%, going from 15 to 26 (26.2% above the 5-year average and 33.3% above the 10-year average) , while in the region, new listings rose 47.1%, going from 855 last year to 1,258 this year (16.7% above the 5-year average and 16.3% above the 10-year average). YTD new listings in Saskatoon rose 23.4% (going from 547 to 675), rose 6.3% in Martensville (going from 26 to 28), and rose 4.7% in Warman (going from 36 to 37). In Humboldt, YTD new listings rose 31.6% (going from 13 to 17), while in the larger region, the number of new listings to date rose 17.5%, going from 784 to 921. Active listings fell 12.0% in Saskatoon (down from 1,454 to 1,279), fell 34.1% in Martensville (down from 85 to 56), fell 41.7% in Warman (down from 120 to 70), fell 8.8% in Humboldt (down from 91 to 83), and fell 21.2% in the region (down from 2,715 to 2,140). 

Inventory in Saskatoon stood at 2.2 months (which is 57.9% below the level last year and 53.5% below the 5-year average), while the sales to listing ratio was 61.6%, suggesting that market conditions favour sellers. Inventory in Martensville stood at 1.8 months (which is 69.1% below the level last year and 71.0% below the 5-year average), while the sales to listing ratio was 97.0%, suggesting that market conditions favour sellers. Inventory in Warman stood at 2.5 months (which is 72.9% below the level last year and 55.3% below the 5-year average), while the sales to listing ratio was 58.3%, suggesting balanced market conditions. Inventory in Humboldt stood at 4.9 months (which is 73.2% below the level last year and 58.6% below the 5-year average), while the sales to listing ratio was 65.4%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 2.8 months (which is 61.0% below the level last year and 55.2% below the 5-year average), while the sales to listing ratio was 61.0%, suggesting that market conditions favour sellers. 

Homes in Saskatoon stayed on the market an average of 36 days in March, down 34.5% from 55 days last year (but below the 5-year average of 52 days and below the 10-year average of 

47 days). Homes in Martensville stayed on the market an average of 40 days, down 39.4% from 66 days last year (but below the 5-year average of 57 days and below the 10-year average of 53 days) while homes in Warman stayed on the market an average of 60 days, up 200.0% from 20 days last year (and above the 5-year average of 52 days and above the 10-year average of 53 days). Humboldt saw Homes stay on the market an average of 107 days, down 51.8% from 222 days last year (but below the 5-year average of 145 days and below the 10-year average of 110 days), and homes in the region were on the market an average of 47 days, also down from an average of 66 days last year (and 24.4% below the 5-year average). 

The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—varied across different centres in the region. Saskatoon saw the price of the benchmark composite home rise 8.2% year-over-year, going from $290,500 to $314,300. The price of the benchmark composite home in Martensville rose 15.1% (going from $353,800 to $407,100) and also rose by 15.0% in Warman (going from $359,700 to $413,500). The price of the benchmark composite home in Humboldt rose 8.5% (going from $177,800 in 2020 to $192,900 this year). 

Regina and Region 

Sales in Regina were up 70.0% going from 213 in March 2020 to 362 in March 2021, and up 71.5% in the overall region, going from 260 to 446. In Regina, sales were 50.2% above the 5-year average (and 48.7% above the 10-year average), while in the larger region, sales were 55.3% above the 5-year average (and 56.2% above the 10-year average). Year-to-Date (YTD) sales in Regina rose 66.5% over last year, increasing from 477 to 794, while YTD sales in the larger region rose 65.8%, going from 573 to 950. 

Sales volume was up 76.6% in the city, going from $65.5M to $115.6M in 2021 (53.8% above the 5-year average, and 50.8% above the 10-year average). In the region, sales volume was up 80.7%, going from $81.0M to $146.4M (62.3% above the 5-year average, and 62.5% above the 10-year average). YTD sales volume in the city was $239.9M, an increase of 70.9% from last year, while in the region, YTD sales volume was $291.9M, an increase of 68.9% from last year. 

In Regina, the number of new listings in March 2021 rose 58.1%, going from 430 to 680 (22.8% above the 5-year average and 30.4% above the 10-year average), while in the region, new listings rose 49.1%, going from 562 last year to 838 this year (19.6% above the 5-year average and 26.3% above the 10-year average). YTD new listings in the city rose 23.0%, going from 377 to 464, while in the larger region, the number of new listings to date rose 16.1%, going from 481 to 558. Active listings fell 16.5% in Regina (down from 1,281 to 1,069) and fell 21.4% in the region (down from 1,760 to 1,383). 

Inventory in Regina stood at 3.0 months (which is 50.9% below the level last year and 43.8% below the 5-year average), while the sales to listing ratio was 53.2%, suggesting balanced market conditions. Inventory in the larger region stood at 3.1 months (which is 54.2% below the level last year and 48.4% below the 5-year average), while the sales to listing ratio was 53.2%, suggesting balanced market conditions. 

Homes in Regina stayed on the market an average of 41 days in March, down 39.7% from 68 days last year (but below the 5-year average of 57 days and below the 10-year average of 46 days). Homes in the region stayed on the market longer than homes in the city at 44 days on average in 2021, also down from an average of 74 days last year (and 29.9% below the 5-year average). 

The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—saw the price of the benchmark composite home in Regina rise 9.5% year-over-year, going from $236,300 to $258,800. 

Melfort and Region 

Sales in Melfort were up 266.7% going from 3 in March 2020 to 11 in March 2021, and up 125.0% in the overall region, going from 16 to 36. In Melfort, sales were 48.6% above the 5-year average (and 29.4% above the 10-year average), while in the larger region, sales were 76.5% above the 5-year average (and 77.3% above the 10-year average). Year-to-Date (YTD) sales in Melfort rose 342.9% over last year, increasing from 7 to 31, while YTD sales in the larger region rose 181.2%, going from 32 to 90. 

Sales volume was up 229.4% in the city, going from $0.8M to $2.6M in 2021 (58.5% above the 5-year average, and 51.9% above the 10-year average). In the region, sales volume was up 127.0%, going from $3.0M to $6.8M (93.2% above the 5-year average, and 109.0% above the 10-year average). YTD sales volume in the city was $6.8M, an increase of 324.1% from last year, while in the region, YTD sales volume was $16.1M, an increase of 219.2% from last year. 

In Melfort, the number of new listings in March 2021 rose 220.0%, going from 5 to 16 (53.8% above the 5-year average and 24.0% above the 10-year average), while in the region, new listings rose 116.7%, going from 24 last year to 52 this year (28.1% above the 5-year average and 15.3% above the 10-year average). YTD new listings in the city rose 81.0%, going from 7 to 13, while in the larger region, the number of new listings to date rose 53.2%, going from 26 to 40. Active listings fell 30.9% in Melfort (down from 55 to 38) and fell 30.4% in the region (down from 224 to 156). 

Inventory in Melfort stood at 3.5 months (which is 81.2% below the level last year and 44.4% below the 5-year average), while the sales to listing ratio was 68.8%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 4.3 months (which is 69.0% below the level last year and 58.1% below the 5-year average), while the sales to listing ratio was 69.2%, suggesting that market conditions favour sellers. 

Homes in Melfort stayed on the market an average of 51 days in March, down 64.6% from 144 days last year (but below the 5-year average of 85 days and below the 10-year average of 93 days). Homes in the region stayed on the market longer than homes in the city at 73 days on average in 2021, also down from an average of 155 days last year (and 34.0% below the 5-year average). 

The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—saw the price of the benchmark composite home in Melfort rise 12.9% year-over-year, going from $177,200 to $200,100. 

Moose Jaw and Region 

Sales in Moose Jaw were up 93.5% going from 31 in March 2020 to 60 in March 2021, and up 60.4% in the overall region, going from 48 to 77. In Moose Jaw, sales were 47.8% above the 5-year average (and 38.6% above the 10-year average), while in the larger region, sales were 46.4% above the 5-year average (and 34.4% above the 10-year average). Year-to-Date (YTD) sales in Moose Jaw rose 67.5% over last year, increasing from 80 to 134, while YTD sales in the larger region rose 50.4%, going from 115 to 173. 

Sales volume was up 107.8% in the city, going from $6.8M to $14.1M in 2021 (45.5% above the 5-year average, and 33.0% above the 10-year average). In the region, sales volume was up 83.1%, going from $9.4M to $17.3M (50.8% above the 5-year average, and 37.3% above the 10-year average). YTD sales volume in the city was $29.3M, an increase of 66.2% from last year, while in the region, YTD sales volume was $37.3M, an increase of 66.4% from last year. 

In Moose Jaw, the number of new listings in March 2021 fell 1.1%, going from 87 to 86 (13.3% below the 5-year average and 8.7% below the 10-year average), while in the region, new listings fell 1.5%, going from 132 last year to 130 this year (2.8% below the 5-year average and 1.8% above the 10-year average). YTD new listings in the city fell 5.3%, going from 75 to 71, while in the larger region, the number of new listings to date fell 8.7%, going from 115 to 105. Active listings fell 26.7% in Moose Jaw (down from 255 to 187) and fell 23.9% in the region (down from 493 to 375). 

Inventory in Moose Jaw stood at 3.1 months (which is 62.1% below the level last year and 53.4% below the 5-year average), while the sales to listing ratio was 69.8%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 4.9 months (which is 52.6% below the level last year and 45.7% below the 5-year average), while the sales to listing ratio was 59.2%, suggesting balanced market conditions. 

Homes in Moose Jaw stayed on the market an average of 62 days in March, down 27.9% from 86 days last year (but below the 5-year average of 72 days and below the 10-year average of 65 days). Homes in the region stayed on the market longer than homes in the city at 73 days on average in 2021, also down from an average of 88 days last year (and 9.7% below the 5-year average). 

The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—saw the price of the benchmark composite home in Moose Jaw rise 3.5% year-over-year, going from $207,500 to $214,800. 

North Battleford and Region (including Meadow Lake) 

Sales in North Battleford were down 6.5% (going from 31 to 29), up 150.0% in Meadow Lake (going from 2 to 5) , and up 22.7% in the overall region, going from 66 to 81. In North Battleford, sales were 28.3% above the 5-year average (and 18.9% above the 10-year average), and were 31.6% above the 5-year average (and 8.7% above the 10-year average) in Meadow Lake, while in the larger region, sales were 47.3% above the 5-year average (and 39.2% above the 10-year average). Year-to-Date (YTD) sales in North Battleford rose 52.9% over last year, increasing from 51 to 78, rose 125.0% in Meadow Lake (going from 8 to 18), and rose 61.0% in the larger region, going from 118 to 190. 

Sales volume was up 45.4% in North Battleford, going from $5.0M to $7.3M in 2021 (53.1% above the 5-year average, and 40.1% above the 10-year average), and was up 511.4% in Meadow Lake, going from $0.3M to $1.6M (74.3% above the 5-year average, and 51.2% above the 10-year average). In the region, sales volume was up 84.3%, going from $11.0M to $20.3M (81.3% above the 5-year average, and 67.6% above the 10-year average). YTD sales volume in North Battleford was $17.1M, an increase of 114.2% from last year, $5.0M in Meadow Lake, an increase of 230.9%, and was $44.3M in the larger region (an increase of 120.6% from last year). 

In North Battleford, the number of new listings in March 2021 rose 33.3%, going from 45 to 60 (4.2% above the 5-year average and 14.1% above the 10-year average), but rose 120.0% in Meadow Lake, going from 5 last year to 11 (6.8% below the 5-year average and 10.6% below the 10-year average). In the region, new listings rose 50.4%, going from 117 last year to 176 this 

year (9.7% above the 5-year average and 14.3% above the 10-year average). YTD new listings in North Battleford rose 1.7%, going from 40 to 41, but rose 27.3% in Meadow Lake, going from 7 to 9, while in the larger region, the number of new listings to date rose 8.0%, going from 109 to 117. Active listings fell 40.4% in North Battleford (down from 193 to 115), fell 16.7% in Meadow Lake (down from 42 to 35), and fell 28.0% in the region (down from 751 to 541). 

Inventory in North Battleford stood at 4.0 months (which is 36.3% below the level last year and 47.8% below the 5-year average), while the sales to listing ratio was 48.3%, suggesting balanced market conditions. Inventory in Meadow Lake stood at 7.0 months (which is 66.7% below the level last year and 43.2% below the 5-year average), while the sales to listing ratio was 45.5%, suggesting balanced market conditions. Inventory in the larger region stood at 6.7 months (which is 41.3% below the level last year and 46.7% below the 5-year average), while the sales to listing ratio was 46.0%, suggesting balanced market conditions. 

Homes in North Battleford stayed on the market an average of 65 days in March, down 55.5% from 146 days last year (but below the 5-year average of 85 days and below the 10-year average of 77 days). Homes in Meadow Lake stayed on the market an average of 81 days in March, down 15.6% from 96 days last year (and above the 5-year average of 76 days and below the 10-year average of 91 days). Homes in the region stayed on the market for 84 days on average in 2021, also down from an average of 143 days last year (and 23.4% below the 5-year average). 

The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—varied across different centres in the region. North Battleford saw the price of the benchmark composite home rise 17.7% year-over-year, going from $178,700 to $210,400 while the price of the benchmark composite home in Meadow Lake rose 20.5% (going from $222,200 to $267,800). 

Prince Albert and Region 

Sales in Prince Albert were up 79.2% going from 24 in March 2020 to 43 in March 2021, and up 138.2% in the overall region, going from 34 to 81. In Prince Albert, sales were 51.4% above the 5-year average (and 17.8% above the 10-year average), while in the larger region, sales were 64.0% above the 5-year average (and 46.5% above the 10-year average). Year-to-Date (YTD) sales in Prince Albert rose 135.1% over last year, increasing from 57 to 134, while YTD sales in the larger region rose 156.8%, going from 88 to 226. 

Sales volume was up 113.2% in the city, going from $5.0M to $10.6M in 2021 (65.5% above the 5-year average, and 25.7% above the 10-year average). In the region, sales volume was up 167.5%, going from $7.1M to $19.0M (75.6% above the 5-year average, and 51.7% above the 10-year average). YTD sales volume in the city was $31.7M, an increase of 174.1% from last year, while in the region, YTD sales volume was $56.3M, an increase of 224.8% from last year. 

In Prince Albert, the number of new listings in March 2021 rose 43.3%, going from 60 to 86 (20.1% above the 5-year average and 14.4% above the 10-year average), while in the region, new listings rose 50.9%, going from 108 last year to 163 this year (22.4% above the 5-year average and 17.9% above the 10-year average). YTD new listings in the city rose 26.4%, going from 53 to 67, while in the larger region, the number of new listings to date rose 21.5%, going from 96 to 117. Active listings fell 17.4% in Prince Albert (down from 270 to 223) and fell 26.6% in the region (down from 598 to 439). 

Inventory in Prince Albert stood at 5.2 months (which is 53.9% below the level last year and 45.7% below the 5-year average), while the sales to listing ratio was 50.0%, suggesting 

balanced market conditions. Inventory in the larger region stood at 5.4 months (which is 69.2% below the level last year and 54.8% below the 5-year average), while the sales to listing ratio was 49.7%, suggesting balanced market conditions. 

Homes in Prince Albert stayed on the market an average of 81 days in March, up 19.1% from 68 days last year (but below the 5-year average of 93 days and below the 10-year average of 88 days). Homes in the region stayed on the market longer than homes in the city at 98 days on average in 2021, but up from an average of 95 days last year (and 16.2% below the 5-year average). 

The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—saw the price of the benchmark composite home in Prince Albert rise 12.1% year-over-year, going from $163,400 to $183,100. 

Swift Current and Region 

Sales in Swift Current were up 100.0% going from 16 in March 2020 to 32 in March 2021, and up 96.2% in the overall region, going from 26 to 51. In Swift Current, sales were 42.9% above the 5-year average (and 49.5% above the 10-year average), while in the larger region, sales were 44.9% above the 5-year average (and 42.9% above the 10-year average). Year-to-Date (YTD) sales in Swift Current rose 27.5% over last year, increasing from 51 to 65, while YTD sales in the larger region rose 41.8%, going from 79 to 112. 

Sales volume was up 109.2% in the city, going from $3.9M to $8.1M in 2021 (38.7% above the 5-year average, and 53.5% above the 10-year average). In the region, sales volume was up 115.0%, going from $4.9M to $10.6M (40.9% above the 5-year average, and 48.7% above the 10-year average). YTD sales volume in the city was $17.9M, an increase of 51.3% from last year, while in the region, YTD sales volume was $24.7M, an increase of 64.0% from last year. 

In Swift Current, the number of new listings in March 2021 rose 14.9%, going from 47 to 54 (5.9% above the 5-year average and 25.6% above the 10-year average), while in the region, new listings rose 16.5%, going from 91 last year to 106 this year (10.9% above the 5-year average and 24.9% above the 10-year average). YTD new listings in the city rose 9.4%, going from 39 to 43, while in the larger region, the number of new listings to date rose 6.6%, going from 81 to 86. Active listings fell 12.4% in Swift Current (down from 202 to 177) and fell 12.8% in the region (down from 501 to 437). 

Inventory in Swift Current stood at 5.5 months (which is 56.2% below the level last year and 29.4% below the 5-year average), while the sales to listing ratio was 59.3%, suggesting balanced market conditions. Inventory in the larger region stood at 8.6 months (which is 55.5% below the level last year and 32.8% below the 5-year average), while the sales to listing ratio was 48.1%, suggesting balanced market conditions. 

Homes in Swift Current stayed on the market an average of 115 days in March, down 10.2% from 128 days last year (and above the 5-year average of 101 days and above the 10-year average of 87 days). Homes in the region stayed on the market for less time than homes in the city at 109 days on average in 2021, also down from an average of 128 days last year (and 5.4% below the 5-year average). 

The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—saw the price of the benchmark composite home in Swift Current rise 11.2% year-over-year, going from $219,000 to $243,600. 

Yorkton and Region (including Melville) 

Sales in Yorkton were up 62.5% (going from 16 to 26), down 37.5% in Melville (going from 8 to 5) , and up 68.2% in the overall region, going from 66 to 111. In Yorkton, sales were 47.7% above the 5-year average (and 53.8% above the 10-year average), and were 13.8% below the 5-year average (and 3.8% below the 10-year average) in Melville, while in the larger region, sales were 57.2% above the 5-year average (and 74.8% above the 10-year average). Year-to-Date (YTD) sales in Yorkton rose 97.0% over last year, increasing from 33 to 65, rose 28.6% in Melville (going from 14 to 18), and rose 114.8% in the larger region, going from 128 to 275. 

Sales volume was up 149.7% in Yorkton, going from $2.7M to $6.7M in 2021 (68.9% above the 5-year average, and 72.0% above the 10-year average), and was up 10.6% in Melville, going from $0.8M to $0.9M (6.1% above the 5-year average, and 24.2% above the 10-year average). In the region, sales volume was up 126.2%, going from $8.3M to $18.7M (70.2% above the 5-year average, and 89.5% above the 10-year average). YTD sales volume in Yorkton was $15.6M, an increase of 146.4% from last year, $2.5M in Melville, an increase of 81.0%, and was $45.5M in the larger region (an increase of 166.0% from last year). 

In Yorkton, the number of new listings in March 2021 rose 48.8%, going from 43 to 64 (28.5% above the 5-year average and 46.8% above the 10-year average), and fell 45.0% in Melville, going from 20 last year to 11 (15.4% below the 5-year average and 4.8% above the 10-year average). In the region, new listings rose 11.6%, going from 181 last year to 202 this year (14.4% above the 5-year average and 23.5% above the 10-year average). YTD new listings in Yorkton rose 15.7%, going from 36 to 42, but rose 13.3% in Melville, going from 10 to 11, while in the larger region, the number of new listings to date fell 0.9%, going from 147 to 146. Active listings fell 27.6% in Yorkton (down from 170 to 123), fell 31.7% in Melville (down from 60 to 41), and fell 24.5% in the region (down from 960 to 725). 

Inventory in Yorkton stood at 4.7 months (which is 55.5% below the level last year and 46.6% below the 5-year average), while the sales to listing ratio was 40.6%, suggesting balanced market conditions. Inventory in Melville stood at 8.2 months (which is 9.3% above the level last year and 5.6% below the 5-year average), while the sales to listing ratio was 45.5%, suggesting balanced market conditions. Inventory in the larger region stood at 6.5 months (which is 55.1% below the level last year and 47.0% below the 5-year average), while the sales to listing ratio was 55.0%, suggesting balanced market conditions. 

Homes in Yorkton stayed on the market an average of 76 days in March, down 30.3% from 109 days last year (but below the 5-year average of 90 days and below the 10-year average of 87 days). Homes in Melville stayed on the market an average of 81 days in March, down 32.5% from 120 days last year (but below the 5-year average of 111 days and below the 10-year average of 109 days). Homes in the region stayed on the market for 110 days on average in 2021, also down from an average of 116 days last year (and 14.1% below the 5-year average). 

The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—varied across different centres in the region. Yorkton saw the price of the benchmark composite home rise 9.0% year-over-year, going from $187,300 to $204,200 while the price of the benchmark composite home in Melville rose 4.5% (going from $105,500 to $110,200). 

South East Saskatchewan and Region (including Estevan and Weyburn) 

Sales in Estevan were up 280.0% (going from 5 to 19), up 83.3% in Weyburn (going from 6 to 11) , and up 120.0% in the overall region, going from 30 to 66. In Estevan, sales were 93.9% above the 5-year average (and 25.8% above the 10-year average), and were 41.0% above the 5-year average (and 3.5% below the 10-year average) in Weyburn, while in the larger region, 

sales were 84.4% above the 5-year average (and 49.7% above the 10-year average). Year-to-Date (YTD) sales in Estevan rose 73.9% over last year, increasing from 23 to 40, rose 45.0% in Weyburn (going from 20 to 29), and rose 65.9% in the larger region, going from 85 to 141. 

Sales volume was up 273.3% in Estevan, going from $0.9M to $3.2M in 2021 (52.6% above the 5-year average, and 20.5% below the 10-year average), and was up 170.8% in Weyburn, going from $1.1M to $3.0M (48.6% above the 5-year average, and 1.8% below the 10-year average). In the region, sales volume was up 177.8%, going from $5.0M to $13.8M (90.9% above the 5-year average, and 35.6% above the 10-year average). YTD sales volume in Estevan was $7.9M, an increase of 102.1% from last year, $7.9M in Weyburn, an increase of 78.8%, and was $29.9M in the larger region (an increase of 99.7% from last year). 

In Estevan, the number of new listings in March 2021 rose 23.5%, going from 34 to 42 (21.4% above the 5-year average and 18.6% above the 10-year average), but rose 45.5% in Weyburn, going from 22 last year to 32 (8.8% above the 5-year average and 13.5% above the 10-year average). In the region, new listings rose 46.2%, going from 106 last year to 155 this year (24.8% above the 5-year average and 36.3% above the 10-year average). YTD new listings in Estevan were flat at 26, but rose 4.2% in Weyburn, going from 24 to 25, while in the larger region, the number of new listings to date rose 16.8%, going from 95 to 111. Active listings fell 24.1% in Estevan (down from 158 to 120), fell 20.6% in Weyburn (down from 165 to 131), and fell 20.8% in the region (down from 773 to 612). 

Inventory in Estevan stood at 6.3 months (which is 80.0% below the level last year and 63.4% below the 5-year average), while the sales to listing ratio was 45.2%, suggesting balanced market conditions. Inventory in Weyburn stood at 11.9 months (which is 56.7% below the level last year and 42.0% below the 5-year average), while the sales to listing ratio was 34.4%, suggesting that market conditions favour buyers. Inventory in the larger region stood at 9.3 months (which is 64.0% below the level last year and 54.9% below the 5-year average), while the sales to listing ratio was 42.6%, suggesting balanced market conditions. 

Homes in Estevan stayed on the market an average of 94 days in March, down 22.3% from 121 days last year (and above the 5-year average of 91 days and above the 10-year average of 88 days). Homes in Weyburn stayed on the market an average of 107 days in March, up 20.2% from 89 days last year (and above the 5-year average of 104 days and above the 10-year average of 93 days). Homes in the region stayed on the market for 126 days on average in 2021, also down from an average of 132 days last year (and 3.8% below the 5-year average). 

The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—varied across different centres in the region. Estevan saw the price of the benchmark composite home fall 9.3% year-over-year, going from $213,800 to $193,900 while the price of the benchmark composite home in Weyburn fell 0.7% (going from $226,000 to $224,400). 

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For interviews and more information: 

Samantha Krahn 

Director of External & Government Relations 

Saskatchewan REALTORS® Association 

samantha@sra.ca 

306.229.4048