AUGUST | REAL ESTATE OVERVIEW
In August, Saskatchewan saw an unprecedented 1,631 sales, marking an 11% rise compared to the same month last year and outpacing the 10-year long-term average by almost 25%.
A decline in new listings in August contributed to lower inventory levels for the month. This decrease in available homes was primarily focused on properties priced under $400,000, maintaining the high level of competition in the more affordable market segment, as observed in previous months.
“Saskatchewan is once again reporting strong sales despite ongoing inventory challenges, inflationary pressures, and higher lending rates,” said Association CEO, Chris Guérette. “Higher interest rates are pushing more purchasers to seek out more affordable options in the market, and, as a result, we continue to experience significant supply challenges in the lower price ranges of our market. These persistent supply challenges are likely preventing even stronger sales activity in August.”
https://mlssask.ca/market-watch-august-2023/
