Real estate sales up in Estevan for December and for 2020

Real estate agents in southeast Saskatchewan were busier in 2020 than they were the previous year.

According to information compiled by Josh LeBlanc, a Realtor Coldwell Banker Choice Real Estate in Estevan, sales were up by nine in December, from four to 13, and the value of the property sold was $1.9 million, compared to $1.365 million the previous year.

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The median price dropped 13.3 per cent from $150,000 to $130,000. Fifteen New listings hit the market last month, which bring the total number of listings to 118, down from 148 in 2019. 

Average day on market has climbed 10 days to 98 from 2019. Sellers are achieved 88 per cent of their asking price in December, which wass up 10.84 per cent from 2019.

Year to date numbers saw a stronger showing in 2020 than in 2019. The number of sales rose 62.4 per cent from 85 to 138. The total dollar value of property sold is up $10 million dollars from $18.7 million in 2019 to $28.8 million in 2020.

The median sale prices took a 10.5 per cent drop in 2020 with the median dropping from $220,350.00 to $197,146. The total number of new listings in 2020 was down 6.1 per cent from 342 in 2019 to 321 in 2020.

Listing inventory saw a 26.3 per cent drop from 195 in 2019 to 144 in 2020. Days on market stayed the same while sellers overall received 73.6 per cent of their asking price.

Sales in southeast Saskatchewan were up 200 per cent in December, going from 12 in December 2019 to 36 in December 2020, up 81.8 per cent from the five-year average (and 39.5% above the 10-year average).

Sales volume in the region for the year rose from $71.0 million to $92.9 million in 2020.

The number of new listings in southeast Saskatchewan fell 1.7 per cent in December, going from 58 to 57 (8.7 per cent below the five-year average and 7.9 per cent below the 10-year average).

Active listings were down 22.7 per cent across the region (779 in 2019 to 602 in 2020).

Inventory in southeast Saskatchewan stood at 16.7 months (which is 74.2 per cent below the level last year and 61.6 per cent below the five-year average), while the sales to listing ratio was 63.2 per cent, suggesting that market conditions favour sellers. Inventory in Estevan stood at 9.1 months (which is 75.5 per cent below the level last year and 78.5 per cent below the five-year average), while the sales to listing ratio was 86.7 per cent, suggesting that market conditions favour sellers. Inventory in Weyburn stood at 12.1 months (which is 85.9 per cent below the level last year and 64.9 per cent below the five-year average), while the sales to listing ratio was 200 per cent, suggesting that market conditions favour sellers.

In 2020, homes stayed on the market an average of 105 days in southeast Saskatchewan, up 43.8 per cent from 73 days last year (and 7.1 per cent above the five-year average of 98 days and 10.3 per cent above the 10-year average of 95 days).

Median home prices in the region for December rose two per cent going from $147,000 to $150,000 (9.7 per cent below the 5-year average median price of $166,200 and 23.3% below the 10-year average median price of $195,600).

For 2020, the median home price in the region was $208,996, which is 7.1 per cent below the $225,062 price from the same time last year.

For more information, contact LeBlanc at 306-421-6778. 

© Copyright Estevan Mercury

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