MOOSE JAW — Home sales in Moose Jaw may have decreased year-over-year in January, but home prices grew for the sixth consecutive month and were nearly 20-per-cent higher year-over-year, new data show.
There were 26 home sales in The Friendly City last month, compared to 27 units in January 2024, a decline of four per cent, the Saskatchewan Realtors Association (SRA) said.
There were 46 new listings in January, compared to 57 units — a drop of 23 per cent — from January 2024. Furthermore, there were 111 units in inventory, a decrease from 113 homes — a drop of two per cent — from the year before. Also, there were 4.27 months of supply — an increase from 4.19 months — and homes spent 72 days on the market.
The benchmark price was $256,000, an increase from $217,600 — a jump of 15 per cent — year-over-year. Meanwhile, the average home price was $227,069, a decrease from $233,881.07 — a drop of three per cent — in January 2024.
“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 January show there are usually 24 homes sold, 65 new listings, 196 units in inventory, 8.60 months of supply, 72 days of homes on the market, a benchmark price of $207,230 and an average price of $217,497.
Furthermore, the 10-year averages for year-to-date data show there are usually 24 homes sold, 65 new listings, 196 units in inventory, 8.60 months of supply, 72 days of homes on the market, a benchmark price of $207,230 and an average price of $217,497.
Provincial data
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Saskatchewan’s housing market started strong in 2025, with 782 sales in January — up one per cent year-over-year and over 17 per cent above the 10-year averages, the SRA said. Strong January sales led to the 19th consecutive month of above-average sales, a streak of robust sales that dates to June 2023. New listings declined by two per cent year-over-year and were down nearly 28 per cent compared to long-term averages, the organization continued. Declining new listings continued to be met with strong demand, which failed to provide supply relief to begin the new year. Inventory levels were down 19 per cent year-over-year and currently sit over 44 per cent below the 10-year average, with more than 600 fewer units available than last year. Notably, of the 3,925 available units reported at month’s end, over 700 had already accepted a conditional offer and were set to leave the market once those transactions closed. “While market activity in the coming months will provide a clearer picture of trends for 2025, monthly sales figures continue to outperform expectations,” said CEO Chris Guérette. “We’re picking up right where we left off after a near-record 2024.” Tighter market conditions continued to place upward pressure on home prices across the province, as Saskatchewan reported a residential benchmark of $342,600 in January — up from $337,800 in December and nearly seven-per-cent higher than January 2024, data showed. “Until recently, Saskatchewan was braced for another strong year in 2025. That outlook has become less certain given the threat of tariffs, coupled with potential Canadian retaliation and uncertainty with the Bank of Canada,” said Guérette. “We’ll be keeping a close eye on these external factors and their potential implications on Saskatchewan’s housing market in 2025.” |
