OCTOBER 2024 | REAL ESTATE OVERVIEW

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

In October, Saskatchewan saw a record 1,520 home sales, the highest ever for the month, marking a 21% increase from last year and 36% above the 10-year average. Sales rose across all regions, leading to an 8% year-to-date increase.

New listings saw modest growth, but inventory hit its lowest October level since 2007, particularly in homes under $300,000. Only properties over $600,000 saw any inventory growth. Association CEO Chris Guérette attributed the solid demand to favourable economic factors, noting that housing demand remains robust despite inventory shortages. Months of supply fell to just over three, pushing prices upward across Saskatchewan. The provincial benchmark price reached $343,400 in October, a 6% increase year-over-year.

Regional Highlights: Year-to-date sales have surged across all regions, with the tightest markets in Saskatoon-Biggar and Regina-Moose Mountain. Saskatoon saw 444 sales (up 17%) with an October benchmark price of $402,600, while Regina had 364 sales (up 18%) and a benchmark price of $321,000.

Overall, Saskatchewan’s real estate market remains highly active, with strong demand, low inventory, and continued price growth across the province.

Your family real estate team:

306.370.8474 | hello@morrison87.com | @morrison87

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