Prince Albert home benchmark price rises 2.6 per cent

(Image Credit: ID 11517138 © Feverpitched | Dreamstime.com)

Prince Albert home benchmark price rises 2.6 per cent Strong buyer demand and tight supply pushed Saskatchewan home prices to another record in June, according to the Saskatchewan REALTORS® Association. The association reported 1,849 residential sales in June, up five per cent from a year earlier and more than 18 per cent above the 10-year average. New listings rose six per cent to 2,735, but inventory remained nearly 50 per cent below the 10-year average.

Months of supply fell to 2.51 months, the lowest level ever recorded for June, while the provincial residential benchmark price reached $385,900, nearly five per cent higher than one year ago. “For months, we’ve talked about Saskatchewan’s housing supply challenges, but the bigger story today is demand,” said Chris Guérette, CEO of the Saskatchewan REALTORS® Association. “More homes are coming onto the market than they did a year ago, but buyers are purchasing them almost as quickly as they’re listed.

That’s why inventory continues to tighten, why months of supply have reached historic lows, and why we’re seeing another month of record benchmark prices.”