The Saskatoon housing market continues to produce eye-catching numbers, revealing just how red-hot things are.
Saskatchewan’s largest city saw a new record benchmark home price in March, reaching $415,900. That’s a jump of $10,500 over the month of February.
The number of home sales in March jumped 11 per cent year-over-year and 13 per cent above the 10-year average. Meanwhile, new listings declined one percent in the same time frame.
As a result, there were less than one month’s supply of homes available heading into April — the lowest number of new listings for this time of year since 2007.
“Of the 602 available units at month’s end, 195 were conditionally sold, leaving just 407 units on the market with active status — less than one month of supply when conditional sales are factored in,” the Saskatchewan Realtors Association CEO Chris Gurette said in a news release.
“The spring market is here. We continue to see near-record demand, and there isn’t enough inventory to meet that demand right now”.
In Regina, sales in March were down three percent year-over-year but were still ahead of the 10-year average by 15 percent.
The residential benchmark price in the provincial capital reached $326,300, a jump of four percent year-over-year.
