
Low supply continues to plague Sask. real estate markets
The latest numbers from the Saskatchewan Real Estate Association shows the continual increase of the cost of buying a home in Saskatchewan, accompanied by a continuing drop in the amount of homes for sale.
The number of new listings was down 14 per cent compared to June 2023 and 21 per cent compared to a decade ago. The biggest supply challenge is homes in the $300,000 and lower range.
“This demand, when paired with falling supply in lower price ranges, limits options for prospective buyers and prevents even stronger monthly sales figures. There simply isn’t enough inventory to service this segment of our market right now,” said SRA CEO, Chris Guérette.
The SRA pointed out in a news release that the properties priced over $400,000 saw improved levels of sales, which counter-balanced a drop in houses selling for below $300,000, where sales would be stronger if there was more supply.