Key Takeaways
Regina and Saskatchewan's real estate markets show significant activity with rising prices due to low supply.
Regina experienced a notable increase in sales, maintaining robust market conditions.
Regina Market Update
In Regina, the property market witnessed a substantial boost in activity, with sales reaching 312 in March, marking an increase of nearly 7% year-over-year, and significantly above the long-term trends by 23%. This surge is attributed to the ongoing decrease in new listings, which has kept the inventory levels stable. Despite these challenges, Regina's benchmark price rose to $313,100 in March, a slight increase from the previous month and 2% higher than the same period last year (Saskatchewan REALTORS® Association).
Overall Saskatchewan Market Trends
Across Saskatchewan, while the trend in some areas like Moose Jaw and Humboldt saw prices rise by nearly 9% from the previous year, the province-wide scene showed varied growth rates. This variability indicates a dynamic market influenced by regional supply and demand pressures. In broader terms, Saskatchewan continues to navigate through inventory shortages which have been a driving force behind price increases in most regions (Saskatchewan REALTORS® Association).
