Real estate sales up in Weyburn area, overall provincial sales increase

The Saskatchewan real estate market continues to build on January’s momentum and outperformed last February. Across the province, sales were up over 74 per cent from last February (and up 62.3 per cent year-to-date, going from 663 to 1,157), new listings were essentially flat (and down 2.1 per cent year-to-date, going from 1,775 to 1,773,) and the median sale price was up close to three per cent (up 1.9 per cent year-to-date, going from $265,000 to $272,000). Inventories were also down in all 19 of the markets that the SRA tracks.

Median sales prices were up in 13 of the 19 markets that the SRA tracks (with Moose Jaw and Yorkton seeing the strongest declines while Estevan and Weyburn had the greatest increases), while the number of sales were up in 18 of 19 markets.

article continues below

Sales in southeast Saskatchewan were up 64 per cent, going from 25 in February 2020 to 41 in February 2021, up 53.0 per cent from the five-year average (and 25.8 per cent above the 10-year average). The total number of sales rose 266.7 per cent in Weyburn, going from three to 11. Sales were 83.3 per cent above the five-year average (and 20.9 per cent above the 10-year average) in Weyburn.

Year-to-Date (YTD) sales in the overall region were up 36.4 per cent over last year, going from 25 to 41, and with YTD sales rising 28.6 per cent in Weyburn, going from 14 to 18.

Sales volume in the region rose 142.9 per cent, going from $4M to $9.7M in 2021 (60.8 per cent above the five-year average, and 29.2 per cent above the 10-year average).

The sales volume increased 437.1 per cent in Weyburn, going from $0.6M to $3.2M (92 per cent above the five-year average and 35.9 per cent above the 10-year average). YTD sales volume in the region rose from $10.0M to $16.2M in 2021 (an increase of 61.1 per cent), with Weyburn seeing a 28.6 per cent rise in the YTD sales volume.

The number of new listings in southeast Saskatchewan was flat at 86 (1.4 per cent below the five-year average and 17.5 per cent below the 10-year average). The number of new listings in Weyburn decreased from 24 last year to 19 this year (a fall of 20.8 per cent). Active listings were down 22 per cent across the region (776 in 2020 to 605 in 2021), down 29.5 per cent in Weyburn (176 to 124).

Inventory in southeast Saskatchewan stood at 14.8 months (which is 52.5 per cent below the level last year and 48.3 per cent below the five-year average), while the sales to listing ratio was 47.7 per cent, suggesting balanced market conditions.

Inventory in Weyburn stood at 11.3 months (which is 80.8 per cent below the level last year and 78.5 per cent below the five-year average), while the sales to listing ratio was 57.9 per cent, suggesting balanced market conditions.

In 2021, homes stayed on the market an average of 122 days in southeast Saskatchewan, up 10.9 per cent from 110 days last year (and 2.9 per cent above the five-year average of 119 days and 17.1 per cent above the 10-year average of 104 days).

Homes in Weyburn stayed on the market longer than homes in the larger region at 163 days on average in 2021, but also up from an average of 29 days last year (and 28.8 per cent above the five-year average).