In a record-breaking month, Saskatchewan reported 1,520 home sales in October, marking the highest sales level ever for this time of year. Sales surged over 21% compared to last October and are 36% above the 10-year average. This province-wide growth reflects sustained housing demand, with year-to-date sales up over 8%.
Despite modest new listings, inventory remains at its lowest October level since 2007, particularly for homes priced under $300,000. This tight inventory has pushed the province’s months of supply to just above three, putting upward pressure on prices. The residential benchmark price for Saskatchewan sits at $343,400, a nearly 6% increase year-over-year.
Read the full article for more insights into regional trends and price movements, especially in Saskatoon and Regina, where record sales are driving historically low inventory levels. [Link to the original article]