AUGUST 2024 | REAL ESTATE OVERVIEW

MORRISON 87 REALTY ’s Monthly Real Estate Brief - Your Essential Guide to All Things Real Estate:

In August, Saskatchewan recorded 1,507 sales, representing a seven percent decrease compared to last year's month but still exceeding the 10-year average by over 12 percent. Although sales dipped slightly, this marked the fourteenth consecutive month of above-average sales, with year-to-date figures remaining seven percent higher than last year.

An increase in new listings compared to sales led to a slight decline in the sales-to-new-listings ratio, which helped moderate a more significant drop in inventory levels. Despite this, inventory levels fell by 17 percent year-over-year and remain 40 percent below long-term averages.

The Regina-Moose Mountain was the only economic region to experience a year-over-year increase in sales. However, many areas still report sales above their long-term, 10-year averages.

Except for the Northern region, all areas have reported year-to-date sales significantly higher than the 10-year average. The highest sales levels have been recorded in the Regina-Moose Mountain, Saskatoon-Biggar, and Swift Current-Moose Jaw regions. Notably, the Saskatoon-Biggar region continues to exhibit the tightest market conditions in the province.

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https://mlssask.ca/market-watch-august-2024/