“In Prince Albert, sales have gone up and inventory has gone down and that’s indicative of a market that favours sellers right now,“ said Guérette.
The Battleford area is showing a more balanced market. North Battleford and region sales, including Meadow Lake, were up 15.2 per cent going from 33 to 38 in June and up 33.3 per cent in Meadow Lake going from 3 to 4. In North Battleford, sales were 41.8 per cent above the five-year average. Year-to-date sales in North Battleford rose 52.6 percent over last year, increasing from 114 to 174 and rose 122.2 per cent in Meadow Lake going from 18 to 40. North Battleford saw the price of the benchmark single family home rise 9.2 per cent year-over-year, going from $188,500 to $205,900 while the price of the benchmark single family home in Meadow Lake rose 11 per cent going from $237,300 to $263,400.
Melfort and region sales were up 220.0 per cent going from 5 in June 2020 to 16 in June 2021, and up 29.2 per cent in the overall region, going from 24 to 31. The MLS Home Price Index saw the price of the benchmark single family home in Melfort rise 15.3 per cent year-over-year, going from $179,500 to $206,900.
Guérette said its still too early to tell what the full impact of tighter mortgage rules that came into effect June 1 would have on demand, but they don’t seem to have had any real impact on Saskatchewan markets.
“The jump in sales and drop in inventory despite efforts to cool the market suggest that the market is still quite strong and that if we want to see prices moderate, policy efforts should be aimed at increasing supply rather than trying to stifle demand,” she said.
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On Twitter: @princealbertNOW
