
The Saskatchewan Realtors® Association has just published their most recent (November 2024) Sask Residential Market update for the province. This gives a look at how the 2024 Fall market is progressing and they are reporting that:
SUSTAINED HOUSING DEMAND DRIVES NEAR-RECORD NOVEMBER SALES
Saskatchewan reported 1,179 sales in November, marking the second-highest monthly sales volume ever for the month. This represents an 18 percent increase compared to November 2023 and 27 percent above the 10-year historical average. Sales growth was widespread, with nearly all regions of the province contributing to a nine percent year-to-date sales increase
November marked the seventeenth consecutive month of above-average sales, which coincided with a drop in new listings. This imbalance further reduced inventory levels, which declined by 23 percent year-over-year and currently sit nearly 45 percent below the long-term, 10-year averages—the lowest for November since 2007.
“As 2024 draws to a close, it’s shaping up to be one of the strongest years on record for our province,” said Association CEO Chris Guérette. “Given the ongoing inventory challenges in many Saskatchewan markets, the fact that we’re reporting above-average sales for 17 consecutive months is unprecedented.”
With inventory tightening and demand remaining strong, Saskatchewan reported 3.6 months of supply in November. While this is a slight increase from October, it remains well below typical seasonal levels. These tight market conditions continue to drive price growth, with many communities across the province reporting year-over-year benchmark price increases.
The province’s residential benchmark price stood at $338,400 in November, slightly down from $343,400 in October. However, this seasonal decline aligns with historical patterns, and the November price remains over five percent higher than the same time last year.
“Saskatchewan’s housing market continues to exceed expectations and defy many seasonal trends,” noted Association CEO Chris Guérette. “After a record-breaking October, November delivered the second-highest sales on record for the month, underscoring the sustained strength of housing demand across the province.”
Check out the image gallery below to see some key information in this market update. Details on the 2024 Fall statistics from each local region across the province can also be found in the full media release from the SRA in the news section of their website by clicking here.
Local regions covered by this Sask residential market update include:
- Saskatoon and Region (including Martensville, Warman, and Humboldt)
- Regina and Region
- Melfort and Region
- Moose Jaw and Region
- North Battleford and Region (including Meadow Lake)
- Prince Albert and Region
- Swift Current and Region
- Yorkton and Region (including Melville)
- South East Saskatchewan and Region (including Estevan and Weyburn)
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