Housing sales in Saskatoon above average, inventory levels low
Housing sales in Saskatoon are well above long-term averages, according to the Saskatchewan Realtors Association (SRA).
There were 538 sales in May, which was nearly identical to sales in May 2022, the SRA said.
However, inventory levels are still below the 10-year average, an SRA news release said.
“Supply levels do vary across different regions of the province,” SRA CEO Chris Guérette said. “For example, much of the inventory declines have been driven by the Regina and Saskatoon markets, while other parts of the province are reporting year-over-year gains.”
Guérette said that buyers and sellers should work with a professional that understands market conditions in their area.
SRA said tighter market conditions were putting pressure on property prices.
The benchmark price for a home in Saskatoon was $380,100 in May, SRA said. That is a monthly gain of nearly two per cent. The provincial benchmark price was also up two per cent at $329,600.
Overall, there were 1,736 sales in Saskatchewan, a four per cent year-over-year decline, SRA said. However, the number is 20 per cent above long-term, 10-year averages.
“Saskatchewan continues to benefit from a strong economy which is helping offset some of the impacts of higher lending rates, keeping sales activity above levels seen before the pandemic,” said Guérette. “Despite ongoing inventory challenges, our market is once again showing its resilience as sales remain above long-term averages.”
CTVNews.ca Top Stories
BREAKING Monthly earnings rise, payroll employment falls: jobs report
The number of vacant jobs in Canada increased in February, while monthly payroll employment decreased in food services, manufacturing, and retail trade, among other sectors.
Doctors say capital gains tax changes will jeopardize their retirement. Is that true?
The Canadian Medical Association asserts the Liberals' proposed changes to capital gains taxation will put doctors' retirement savings in jeopardy, but some financial experts insist incorporated professionals are not as doomed as they say they are.
Remains from a mother-daughter cold case were found nearly 24 years later, after a deathbed confession from the suspect
A West Virginia father is getting some sense of closure after authorities found the remains of his young daughter and her mother following a deathbed confession from the man believed to have fatally shot them nearly two decades ago.
Something in the water? Canadian family latest to spot elusive 'Loch Ness Monster'
For centuries, people have wondered what, if anything, might be lurking beneath the surface of Loch Ness in Scotland. When Canadian couple Parry Malm and Shannon Wiseman visited the Scottish highlands earlier this month with their two children, they didn’t expect to become part of the mystery.
What do weight loss drugs mean for a diet industry built on eating less and exercising more?
Recent injected drugs like Wegovy and its predecessor, the diabetes medication Ozempic, are reshaping the health and fitness industries.
2 military horses that broke free and ran loose across London are in serious condition
Two military horses that bolted and ran miles through the streets of London after being spooked by construction noise and tossing their riders were in a serious condition and required operations, a British government official said Thursday.
'It was instant karma': Viral video captures failed theft attempt in Nanaimo, B.C.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
Fair in Ontario, flurries in Labrador: Weather systems make for an erratic spring
It's no secret that spring can be a tumultuous time for Canadian weather, and as an unseasonably mild El Nino winter gives way to summer, there's bound to be a few swings in temperature that seem out of the ordinary. From Ontario to the Atlantic, though, this week is about to feel a little erratic.
He replaced Mickey Mantle. Now baseball's oldest living major leaguer is turning 100
The oldest living former major leaguer, Art Schallock turns 100 on Thursday and is being celebrated in the Bay Area and beyond as the milestone approaches.