The Saskatchewan Realtors Association says the province’s real estate market is showing strong signs of recovery.
Data released last week shows sales from across the province were up close to 50 per cent from June of last year, and down only .3 per cent for the first six months of the year.
Sales in southeast Saskatchewan were up 35.1 per cent, going from 37 in June 2019 to 50 in June 2020. It’s also up 20.2 per cent from the five-year average (and 8.3 per cent below the 10-year average).
The total number of sales in Estevan rose 57 per cent, going from seven to 11, and 14.3 per cent in Weyburn, from 14 to 16. Sales in Estevan were 17.0 per cent above the five-year average, but 35.7 per cent below the 10-year average
So far this year, sales in Estevan have grown from 40 to 51.
Sales volume in Estevan rose 13.9 per cent from $9.2 million to $10.5 million in 2020.
The number of new listings in Estevan was down from 44 last year to 35 this year, which is a 20.5 per cent decrease. Active listings are down 35 per cent in Estevan, from 226 to 147.
The sales to listing ratio was 31.4 per cent, suggesting to the Realtors association that market conditions favour buyers.
Homes in Estevan stayed on the market 105 days on average in 2020, down from an average of 140 days last year
Median home prices in Estevan went from $247,000 in 2019 to $290,000 (an increase of 17.4 per cent) and were approximately two per cent above the five-year average.
