NOVEMBER | REAL ESTATE OVERVIEW

“Saskatchewan’s housing market continues to benefit from a strong economy, record employment and population growth,” said Association CEO, Chris Guérette. “These factors, when paired with our relative affordability, continue to support above-average monthly sales and stable demand in home ownership.”

In November, Saskatchewan witnessed a surge in real estate transactions, with a total of 1,006 properties changing hands. This figure represents a notable 10% rise compared to the same month last year, continuing a five-month streak of annual sales growth in the region. The upswing in sales was predominantly fueled by increased activity in the Regina and Saskatoon areas. Consistent with trends observed in recent months, the cumulative sales for the year have consistently outperformed the average numbers recorded over the past decade, underscoring the province's robust real estate market.

Despite a marginal increase in new property listings compared to the previous year, the exceptional sales volume in November led to a further reduction in available inventory, particularly for homes valued at under $400,000. The inventory levels have decreased by more than 16% on an annual basis and are currently over 30% lower than the average figures seen over the last ten years.

https://mlssask.ca/market-watch-november11-2023/

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