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
Spectacular aurora light show to be seen across Canada Friday night
A rare and severe solar storm is expected to bring spectacular displays of the northern lights, also known as aurora borealis, across much of Canada and parts of the United States on Friday night.
Which Canadian cities have the highest and lowest grocery prices?
Where you live plays a big factor in what you pay at the grocery store. And while it's no secret the same item may have a different price depending on the store, city or province, we wanted to see just how big the differences are, and why.
McGill University seeks emergency injunction to dismantle pro-Palestinian encampment
McGill University has filed a request for an injunction to have the pro-Palestinian encampment removed from its campus.
Swarm of 20,000 bees gather around woman’s car west of Toronto
A swarm of roughly 20,000 bees gathered around a woman’s car in the parking lot of Burlington Centre.
U.S. says Israel's use of U.S. arms likely violated international law, but evidence is incomplete
The Biden administration said Friday that Israel's use of U.S.-provided weapons in Gaza likely violated international humanitarian law but wartime conditions prevented U.S. officials from determining that for certain in specific airstrikes.
Barron Trump declines to serve as an RNC delegate
Former U.S. President Donald Trump's youngest son, Barron Trump, has declined to serve as a delegate at this summer’s Republican National Convention, according to a senior Trump campaign adviser and a statement from Melania Trump's office.
Mother assaulted by stranger while breastfeeding baby in her car: Vancouver police
A person was arrested in East Vancouver Thursday after allegedly entering a car while a mother was breastfeeding her four-month-old boy.
'We have laws': Premier Smith says police action justified in Calgary
The actions, including the decision to use non-lethal force, to disperse pro-Palestinian protesters from the University of Calgary campus were justified, Alberta Premier Danielle Smith said Friday.
'State or state-sponsored actor' believed to be behind B.C. government hacks
The head of British Columbia’s civil service has revealed that a “state or state-sponsored actor” is behind multiple cyber-security incidents against provincial government networks.