Real estate activity in Saskatchewan dropped sharply in April but not as much as expected.
New listings decreased 48.1per cent and sales were down 45.1 per cent across the province. Average home prices fell 3.2 per cent year over year.
This activity “is consistent with the modest price decline experienced in other markets affected by the pandemic,” said Saskatchewan Realtors Association CEO Jason Yochim.
During the SARS pandemic sales activity dropped 72 per cent in some markets. Activity returned to normal quickly after past pandemics and Yochim expects the same will happen now.
Given re-opening of the economy “we anticipate the real estate industry in Saskatchewan will likely emerge from this shutdown with only a few cuts and scrapes.”
In Moose Jaw, median home prices dropped 29.1 per cent to $175,500 from $247,500 a year ago.
Twenty sales were down from 50 last April. Sales volume of $21.5 million dropped 32.5 per cent.
New listings fell to 48 from 123 and active listings fell to 250 from 334.
Only Regina saw house prices increase — by 1.7 per cent.
Median house prices fell 30 per cent in Saskatoon; 41.7 per cent in Melfort; 27.4 per cent in Swift Current; 21.7 per cent in Prince Albert; 13.3 per cent in North Battleford and the Estevan/Weyburn region; and 6.4 per cent in Yorkton.
Ron Walter can be reached at [email protected]
