Realtors association says July home sales up 9% from 2022 levels

Like the temperatures, the housing market in Saskatchewan heated up in July.

According to the Saskatchewan Realtors Association, there were 1,560 homes sold in the province in July, a year-over-year increase of nine per cent and an increase of 13 per cent over the 10-year average.

The association said much of the increase was driven by property priced below $300,000.

There were 352 sales in Regina in July, a decline of less than one per cent from the same period in 2022. However, the association said July sales levels in Regina were nearly 17 per cent above the 10-year average.

The benchmark price in Regina was $319,200 in July, up from $318,700 in June and $316,100 in May.

Saskatoon saw 497 sales last month, a year-over-year increase of 11 per cent and a hike of 16 per cent over the 10-year average.

The city set a record with a benchmark price of $384,200, up from $381,400 in June and $380,100 in May.

The association said inventory was “a significant challenge” for many areas of the province. The levels were down 11 per cent from the previous year and down more than 30 per cent from the 10-year average.

The realtors association noted the Saskatoon-Biggar region is experiencing the “tightest conditions in Saskatchewan, with less than three months of inventory on the market.”