NEAR-RECORD SEPTEMBER SALES DRIVEN BY STRONG DETACHED ACTIVITY
Saskatchewan reported 1,398 sales in September, an eight percent year-over-year increase and nearly 15 percent above long-term, 10-year trends. September marked the fifteenth consecutive month of above-average sales in Saskatchewan, with sales levels across the province amongst the strongest ever reported for the month.
Strong gains in the detached sector drove much of the year-over-year sales growth, accounting for nearly 73 percent of monthly sales. Sales levels also improved across nearly every region of the province, with year-to-date sales currently on pace to be the second highest on record.
“Record population growth, favourable economic conditions, and an improving labour market continue to support strong demand in Saskatchewan’s housing market,” said Association CEO, Chris Guérette. “When paired with easing lending rates, these factors are, without question, contributing to a fifteenth consecutive month of above-average sales.”
New listings trended down in September, a two percent year-over-year decline and over 16 percent below long-term trends. The pullback in new listings relative to sales resulted in a 17 percent year-over-year inventory decline, nearly 40 percent below the 10-year average—the lowest level reported in September since 2007.
Saskatchewan reported a residential benchmark price of $343,800 in September, down from $344,700 in August and nearly six percent above September 2023. Meanwhile, all Saskatchewan cities reported year-over-year benchmark price increases – with the largest increase (13 percent) in the City of Moose Jaw.
City of Regina
The City of Regina reported 320 sales in September – the second-highest level on record for the month – up five per cent year-over-year and 19 per cent above long-term, 10-year trends.
Strong sales figures were met with declining new listings, resulting in a 23 percent year-over-year decline in inventory, over 40 percent below long-term trends.
The City of Regina reported a benchmark price of $320,700 in September, up from 319,700 in August and nearly five percent above September 2023.
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