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The real estate picture for Weyburn was largely unchanged in April compared to a year ago, but the year-to-date numbers show an improvement in the housing market so far this year. According to statistics compiled by the Saskatchewan Real Estate Board, residential sales in Weyburn dropped slightly in April from 15 last year to 11, and new listings dropped by the same number, from 26 in 1999 to 22 this year. At the same time, the sales volume was up by 14 per cent, from $779,800 in 1999 to $890,300 this year. While house sales dropped in April, sales for the year-to-date show 42 sales as of the end of April, compared to 34 a year ago; the sales volume is also up by about $1 million over last year, from $1.95 million to $2.95 million this year. Despite a busy oilpatch, local realtors say the local economy hasn't improved much from a year ago, and cautioned people from putting too much emphasis on the higher sales volume. "I don't think the local economy is much better than last year. There are more drilling rigs than last year, but the impact of the farming crisis was unknown at this point last year," said Marvin Gisi, president of the Weyburn Real Estate Board. He says the sales numbers for April are more indicative of the current economic picture than the year-to-date numbers. Real estate broker Marion Severson agreed, saying the economy appears to be very similar to last year so far and the housing market is doing well right now. "There hasn't been an increase in house prices from last year. There are more drilling rigs in the area, but we find they're not buyers," she said, pointing out the higher sales volume simply indicates the houses sold were on the higher end of the price scale. The average price of houses sold in April was $80,936, up from an average of $51,987 last year. One of the positive signs in the local housing market is Weyburn has a much more stable market, without the price peaks and valleys seen in larger centres like Calgary or Vancouver. "Our buyers aren't just oil or just Alcatel (employees), we've got some first-time buyers and people moving up. It's been a real variety and that's good for us," said Severson. |
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