(file photo/paNOW)

By Susan McNeil

Sales, prices still rising in smaller Sask real estate markets

Aug 8, 2024 | 5:00 PM

July numbers show the continuation of price increases in smaller Saskatchewan real estate markets with Humboldt, Meadow Lake, Melfort, North Battleford and Prince Albert all reporting year-over-year increases.

Updated numbers were released two days ago by the Saskatchewan Realtors Association.

In Prince Albert, the benchmark price rose another 1.5 per cent compared to the same period in 2023 and sits at $251,200. That is, however, $500 lower than the benchmark price from June.

Supply has gone up compared to recent months, with another 65 homes listed. It remains lower than the previous year, with 174 homes up for sale.

In Humboldt, a five per cent increase was seen in the benchmark price to bring it to $272,500.

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The housing supply continues to drop and is now 64 per cent lower than it was a decade ago.

Total inventory for sales is 32 homes, with 20 added in the last month.

Nearby, the Jansen region may have seen the biggest jump in prices with a 12.2 per cent increase.

The benchmark in the region, which is named for the Jansen potash mine now under construction, has reached $224,000.

Melfort sales remain strong thanks to a 5.5 per cent rise of the benchmark to $241,100.

In July, 10 new listings were added to bring the number of homes up to 24. Only three months of supply are available.

Meadow Lake had the strongest June sales in a decade as 10 homes sold during the month, large growth compared to two the year before. However, 2023 was a slight anomaly and six homes were sold in June 2022.

A screenshot of July sales in Meadow Lake for the last decade.

The city’s benchmark price went up as well, growing by 1.9 per cent to $278,300. The 10 houses listed for sale last month brought the total volume to 44.

North Battleford’s price rose as well, an increase of 3.2 per cent for a July benchmark price of $213,800.

With 32 new listings and 19 sales, the city’s inventory stands at 115, which is about six months of supply.

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susan.mcneil@pattisonmedia.com