June 2022 – Saskatchewan and Regina & Area Market Statistics

In comparison to last year’s levels, June sales have eased. “While sales have been trending down in the province this year, we cannot lose sight of the fact that sales levels are still amongst the highest levels ever recorded in our market and these higher relative levels are still being achieved despite the sharp rise in lending rates,” comments Chris Guérette, CEO of the Association.

As for the New Listings numbers, compared to last year, they have risen almost 9% which has helped support some monthly gains in inventory levels.  Even with 6,893 units in inventory, supply levels are still 27% lower than the 10-year average and is one of the lowest levels reported for June.

Similar to the month of April, sales in May have increased compared to the start of the year. Although sales have increased since the beginning of 2022, compared to last May’s sales of 1,853, this May’s sales were 1,814, dropping by 1.8%. Since the beginning of the year, sales in Saskatchewan totaling 6,682, have dropped 11% compared to last year’s January-May sales, but the long-term trend which is the compiled 10-year average from the current year to 10 years from now is more than 27% higher.

According to Chris Guérette, CEO of Saskatchewan REALTORS® Association, “While demand for homes in Saskatchewan has remained relatively strong so far this year, we did not go through the same early demand surge as some markets. In fact, our market is

When you are selling your home, most people tend to focus on the interior. Although the interior is key, the exterior sets the first impression. It’s important to make sure that your home provides the best, first impression because it can make a dramatic difference in how many people click on your listing or drive past and call to book a showing. With the exterior being such an important feature, we have created a list to help you enhance your home’s curb appeal.

1.       Trim Back Trees & Shrubs

Sometimes, all it takes is trimming your trees and shrubs to kick your yard up a notch. If you follow the perfect pruning practice, it involves trimming about 1/3 of the good wood during any major pruning session. Trimming just enough is

Throughout Saskatchewan, housing sales have slowed 11% compared to record highs set last April. Although sales have been slower in the first four months of the year, it is important to note that the 4,873 sales are 30% higher than longer-term trends. According to SRA CEO, Chris Guérette, “While rising lending rates are likely contributing to some of the pullback in sales, another challenge limiting sales has been the drop in supply choice, especially in the larger markets of the province.”

April’s New Listings were 18% lower than last year’s levels and Inventory levels are 20% lower than last April and over 30% below the long-term trends. The Months of Supply remain below four months and as Guérette stated, “The Months of Supply number is an

In Saskatchewan when spring comes and the grass starts to peak through the snow everyone is excited for it! Although the nice weather is here, so is the spring cleaning, outside and in. That is where we come in, with an itemized cleaning checklist to help tackle all areas of the home, including those areas of the home you might forget!

Kitchen

Oven: A combination of dish soap, baking soda, vinegar, and water is all you need to make the baked on stains wipe off with ease.   Combining equal parts dish soap, water, and vinegar in a spray bottle and thoroughly spray the mixture all over the oven. Once the oven is coated with the mixture, sprinkle on baking soda over top of the spray mixture and leave it to do its magic for at least an

Many people celebrate International Women’s Day on March 8th. We were curious about Women and Real Estate, here is what our research says.

Legislation was not discussed regarding women and property rights - more specifically during marriage - unless inherited, earned outside the home, or formally held in joint title. According to the Encyclopedia of Saskatchewan’s Beth Wilson, “In 1978, a Supreme Court of Canada decision denied Helen Rathwell of Tompkins, Saskatchewan, her claim to a share of half of the farm that she and her husband had worked on during their twenty-four-year marriage. The criticism generated by this case, along with others like Irene Murdoch's claim (Alberta), decided by the Supreme Court of Canada in 1975, and triggered a

While Sales in Saskatchewan declined 8% compared to last year’s numbers, it is important to remember that the housing demand proves to be resilient. Levels are 22% higher than what we were used to seeing at the start of the year and nearly 40% higher than the average levels recorded throughout the 2015-2020 time frame.

With Sales dropping, so have New Listings, by almost 7% compared to last year and 14.6% since the beginning of 2022. This could be attributed to the significant 11.1% drop in inventory along with the 10-year average spread dropping an astonishing 25.3%. Chris Guérette, Saskatchewan REALTORS® Association’s CEO states, “Last month, we started to raise an alarm bell about inventory levels in Saskatchewan,’... ‘Now that we’re two months

As the first month of the New Year comes to an end, we are able to get a better look at how Saskatchewan’s housing market is fairing with low inventory. January inventory levels are the lowest they have been since 2012. Saskatchewan Realtors® Association’s CEO, Chris Guérette, states that if the number of New Listings continues to improve relative to Sales, it should eventually translate into improved supply and a healthier market balance.

Although Sales have dropped by 18.3% to 748, compared to last January, everything is relative as the price compared to last January has risen 7.0% to $285,700. The biggest worry for Saskatchewan’s Housing Market will be the consistent drop in Inventory as even the 10-Year Average Spread has dropped a significant

When it comes to pets in Canada, over half of the population has one - 56% to be exact. When the pandemic hit, roughly 900,000 Canadians who have never owned a pet, welcomed one into their home. To say that Canadians have a soft spot for their pets would be an understatement, which means that the home and environment that Canadians keep them in is important.

When you’re buying a home, there is a great deal to think about, and that is before thinking what best fits your animal’s needs. It is overwhelming trying to think of everything that your animal might need in a new potential home which is why we have created a list of mental checks to have in the back of your mind when you are viewing potential homes.

Home Buyer’s Pet Guide

1. Safely

Saskatchewan had an incredible housing market boom in 2021, setting a housing sales record of 17,387 homes sold. This new record has surpassed the previous record set in 2007 by 17%.

Although the amount of new listings in Saskatchewan did improve in 2021, the inventory of homes dropped significantly throughout the province by almost 17%. With inventory numbers reduced and a coinciding strong demand, this ensured that the market favoured the seller. With these changes came the almost 8% rise of the benchmark price to $284,200. Granted, there was also a large variation of property types and location, from single family homes that were only 1% below previous highs, to condominium’s that remain 17% below the notorious highs of 2014.

Despite the