In September, Saskatchewan recorded 1,398 home sales, showing an 8.0 per cent increase from the previous year and 15 per cent above the 10-year average, according to the Saskatchewan Realtors Association (SRA). This marks the 15th consecutive month of above-average sales in the province, with some of the strongest figures ever reported for September.
“Record population growth, favorable economic conditions, and an improving labor market continue to drive strong demand in Saskatchewan’s housing market,” says SRA CEO, Chris Guérette. “Coupled with easing lending rates, these factors are undoubtedly contributing to a fifteenth consecutive month of above-average sales.”
Sales & inventory highlights
Detached homes made up 73 per cent of the sales growth, with regions across the province seeing improvements and year-to-date sales on track to be the second-highest on record.
New listings decreased by 2.0 per cent year-over-year, dropping 16 per cent below long-term trends. This, combined with strong sales, resulted in a 17 per cent inventory decline, pushing inventory levels to their lowest since 2007.
Price highlights
The provincial benchmark price in September was $343,800, slightly down from August but up nearly 6.0 per cent from the previous year.
Moose Jaw led the province in price gains with a 13 per cent increase, while Saskatoon reported a record benchmark price of $401,800, up 7.0 per cent year-over-year.
Regina highlights
Regina saw 320 sales last month — the second-highest level on record with a 5.0 per cent year-over-year and 19 per cent long-term trend increase.
The city’s new listings were down, leading to a 23 per cent inventory decrease year-over-year. The benchmark price in Regina for September was $320,700, nearly five per cent higher than the previous year.
Saskatoon highlights
Saskatoon reported 432 sales last month — a 16 per cent year-over-year and 24 per cent long-term trend increase.
The city’s supply remains limited, resulting in strong sales. September’s inventory levels were over 46 per cent below the 10-year average, the lowest reported for the month since 2007.
Review the full report, including by province, city, CMA/CA, economic region, and census division.
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