MOOSE JAW — Home sales in Moose Jaw in March soared more than 20 per cent year-over-year, although most other sales metrics saw double-digit percentage declines, data show.
There were 48 home sales in The Friendly City last month, compared to 37 units — a jump of 23 per cent — in March 2024, the Saskatchewan Realtors Association (SRA) said.
Furthermore, there were 57 new listings, or a drop of 12 per cent compared to last March; 110 units in inventory, or a drop of 14 per cent; 2.29 months of supply, or a drop of 30 per cent; 54 days of homes on the market; a benchmark price of $263,600, or an increase of 11 per cent; and an average price of $241,861, or a drop of three per cent.
“Benchmark price reflects the price of a typical or average home for a specific location. Average and median prices are easily swayed by what is sold in that time frame,” the SRA explained.
“As a benchmark price is based on a typical home, price changes more accurately represent true price changes in the market as it is an apples-to-apples comparison.”
The 10-year averages for March show there are usually 41 home sales, 94 new listings, 235 units in inventory, 6.12 months of supply, 60 days of homes on the market, a benchmark price of $213,640 and an average price of $243,930.
Furthermore, the year-to-date data — Jan. 1 to March 31 — show there have been 102 homes sold, 150 new listings, 111 units in inventory, 3.26 months of supply, 57 days of homes on the market, a benchmark price of $258,233 and an average price of $237,867.
Meanwhile, the 10-year averages for year-to-date data show there are usually 98 home sales, 226 new listings, 213 units in inventory, 6.91 months of supply, 66 days of homes on the market, a benchmark price of $209,917 and an average price of $232,429.
Provincial data
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Saskatchewan’s housing market continued to exceed expectations and defy national trends, with 1,277 sales in March — up over eight per cent year-over-year and 13 per cent above long-term, 10-year averages, the SRA said. New listings decreased by two per cent year-over-year and remained nearly 30 per cent below long-term trends. When paired with the 21st consecutive month of above-average sales, inventory levels continued to worsen across many areas. “Notwithstanding economic uncertainty and the ongoing threat of tariffs, Saskatchewan’s housing market remains remarkably resilient, once again posting above-average monthly sales,” said CEO Chris Guérette. “Many markets across the country are going to tell a very different story this month, which highlights the strength of our market — even in the face of significant headwinds.” At month’s end, 4,023 units were available across the province, up from 3,851 last month. Despite the slight month-over-month increase, inventory levels dipped by 21 per cent year-over-year, remaining nearly 50 per cent below the 10-year average, the SRA said. Furthermore, Saskatchewan’s two largest markets continued to grapple with severe inventory shortages, as Saskatoon entered April with just 0.98 months of supply, while Regina trailed closely behind at 1.29 months. Strong sales and persistent supply constraints continued to boost home prices across the province, with a residential benchmark price of $353,600 in March — up from $344,700 in February and over six-per-cent higher than March 2024. “The spring market is here. We continue to see near-record demand, and there isn’t enough inventory to meet that demand right now,” said Guérette. “Our message to those trying to navigate this market is simple: it’s going to be very challenging, patience is essential, and the expertise of a real estate professional is more crucial than ever.” |
