Home sales in Sask. have been above average for 18 straight months

Sask. home sales not slowing down WATCH: Home sales skyrocketed in 2024 with sales in Regina hitting an all time high. Mick Favel chats with experts about the trend.

According to the Saskatchewan Realtors Association, 2024 was the second-best year on record in terms of home sales in the province.

In December, there were 776 sales, with a total of 16,119 sales in Saskatchewan throughout 2024, a nearly 15 per cent increase above long-term, 10-year averages.

Regina set a new record of 3,917 sales in 2024, while Saskatoon recorded their second-strongest year on record with 5,035 sales.

“An incredible year for Saskatchewan in 2024. We closed the year with 18 consecutive months of above average sales,” said Cole Zawislak, director of public affairs and communications with the Saskatchewan Realtors Association.

Despite the record sales, there has been a consistently low inventory of homes available in big and small markets. This has led to competition in a number of sale brackets.

Katie Ripplinger is a realtor from Realty Executives Diversified Realty. She said homes priced between $200,000 to $800,000 are low and go quickly when on the market.

“There’s not a lot coming out in that range,” she said.

“That’s whereas a buyer you get into that situation where if it’s priced appropriately, you are potentially gonna have to go in and compete,” she added.

A lower inventory and higher demand did push prices up around the province.

Moose Jaw led the way with final sale prices moving up for five months in a row.

Despite rising prices, Ripplinger said Regina is still an affordable place to buy a home.

“You might have to offer a little bit more over asking. But at the same token, we are still very affordable,” she said.

Last year’s trends are looking to continue into 2025.

“I would say to prospective buyers out there, it’s going to be tough, especially with the inventory situation if it doesn’t get better. It’s going to be a challenging time to purchase a home in 2025,” Zawislak said.