Prince Albert real estate benchmark price jumps 6.4%, following provincial trend

Sales were up 77.8 per cent compared to 2023 and over 53 per cent in the last decade. There is just over three months of supply and realtors have reported house being sold at the asking price or higher and within 24 hours of being listed.

What hasn’t changed is the demand for housing in a certain price range. Homes in the $200,000 to $300,000 range remain the most popular and grew in volume compared to last year.

Another category of price between $500,000 and $600,000 has seen increases when compared to 2023 as well. So far this year, 20 homes have sold in that price range compared to

The last decade of sales in November.

The numbers in Prince Albert are part of a continual increase in the number and value of home sales, according to the Saskatchewan Realtors Association.

“Tighter market conditions continue to support price growth, with all regions of the province reporting year-over-year benchmark price increases in November,” reads the most recent update, issued on Dec. 6.

“The Prince Albert Region experienced the most significant year-over-year growth (7.2 percent), followed by the Saskatoon-Biggar (6.3) and Swift Current-Moose Jaw (5.9) regions.”

Last month, 1,179 homes changed ownership in Saskatchewan, the second highest month ever. That marks an 18 per cent increase over last year and 27 per cent above the 10 year average.

“Sales growth was widespread, with nearly all regions of the province contributing to a nine percent year-to-date sales increase,” reads the update.

At the same time sales are growing, the available housing for sale is shrinking, 23 per cent year over year and almost 45 per cent compared to the 10-year average.

“As 2024 draws to a close, it’s shaping up to be one of the strongest years on record for our province,” said Association CEO Chris Guérette. “Given the ongoing inventory challenges in many Saskatchewan markets, the fact that we’re reporting above-average sales for 17 consecutive months is unprecedented.”

The provincial benchmark price now sits at $338,400, an increase of over five per cent in the last 12 months.

Saskatoon reported 380 home sales in November, a 21 per cent increase over the last year and their benchmark now sits at $398,800, a slight drop from last month which reflects the time of year, according to the SRA.

Despite a large amount of construction, the strong number of sales means that the city has less than two months of supply.

In Regina, they had 273 home sales in the same time frame, a 14 per cent increase and 28 per cent higher than the 10-year average.

Their benchmark price is now $313,700, also a slight reduction from last year but still staying four per cent higher than the same time last year.

A quick snapshot of Pattison Media’s Saskatchewan markets shows the following results:

Battleford up 6.2% to $246,700

Humboldt up 11.4% to $285,400

Jansen up 13.4% to $215,221

Meadow Lake up 5.5% to $275,400

Melfort up 9.2% to $240,000

North Battleford up 6.6% to $207,400

Sales in Humboldt are strong, as are those in the Jansen area, driven by the mine construction.

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susan.mcneil@pattisonmedia.com

by Susan McNeil

Prince Albert real estate benchmark price jumps 6.4%, following provincial trend

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