Sales in the city of Moose Jaw slowed down in December, with only 16 sales recorded for the month, compared to 19 in 2019 – a decrease of 15.8 percent. These combined with 9 regional sales for an overall decrease of 3.85 percent in all areas from 26 to 25 sales. This is down from both the 5-year average of 37 sales and 10-year average of 39.

The year ended with overall 2019 sales up 3.6 percent in the city, from 417 to 432, but down 5.7 percent in the region from 564 last year to 532.

Sales volume for the month was down 26.09 percent in the city at $3.4M from 2018’s $4.5M, while the region showed a significant increase over 2018, up 74.39 percent to 1.2 million from $707,900. Despite slumping sales volume for the month, the city recorded a 2.4 percent increase for the year from $98.6 million in total sales in 2018 to $101 million in 2019. The region, including the city ended the year down 5.9% from $123.9 million last year to $116.6 million.

The December MLS® Home Price Index (HPI) reported a Composite Benchmark Price of $210,100, up 4.3% from $201,400 last year. The MLS® HPI, which measures residential price trends based on four benchmark home types is a much more accurate measure of housing price trends than average or median prices.

Listings in the region were up 8.7% from 46 to 504 while the city saw listings up 24 percent from 25 to 31. This falls well below the 5-year average of 81, as well as the 10-year average of 78.

For the year, listings are down both in the city – 6.8 percent from 961 to 896, and in the region – 11.7 percent from 1,442 to 1,273. an increase of 8.9% from 45 in 2018 to 49 last month.

The ratio of sales to new listings for the city of Moose Jaw this month was 51, with the region at 50. Balanced market conditions include anything in the 40-60 percent range. Below 40 percent is considered to be more of a buyer’s market while above 60 percent is deemed more favourable to sellers.

See the full details here: Moose Jaw City and Region (MEDIA)