The Saskatchewan Realtors Association has released the real estate sales numbers for August.
Sales in southeast Saskatchewan were up 116.1 per cent from the same period a year earlier, going from 31 in August 2019 to 67 in August 2020. It was also up 47.6 per cent from the 5-year average and 23.4 per cent above the 10-year average.
The total number of sales in Estevan rose 200 per cent, going from seven to 21, and rose 80 per cent in Weyburn, going from 10 to 18.
Sales in Estevan were 66.7 per cent above the five-year average and 32.1 per cent above the 10-year average, while they were 28.6 per cent above the five-year average and 7.1 per cent above the 10-year average in Weyburn.
Year-to-date (YTD) sales in Estevan rose from 56 to 81, and from 82 to 89 in Weyburn.
Sales volume in the region rose 135.2 per cent, going from $5.2 million to $12.3 million in 2020 (32.3 per cent above the five-year average, and 0.2 per cent below the 10-year average). Sales volume in Estevan rose 28.7 per cent from $13.1 million to $16.8 million in 2020 (48.2 per cent above the five-year average and 2.2 per cent above the 10-year average), while it increased 134.2 per cent in Weyburn, from $1.7 million to $4.1 million (22.5 per cent above the five-year average and 2.8 per cent below the 10-year average).
YTD sales volume in the region rose from $49.9 million to $59.2 million in 2020 (an increase of 18.6 per cent), with Estevan seeing a 28.7 per cent rise and Weyburn seeing an 8.5 per cent rise in the YTD sales volume.
The number of new listings in southeast Saskatchewan rose 11.7 per cent, going from 111 to 124 (9.4 per cent below the five-year average and 9.4 per cent below the 10-year average). The number of new listings in Estevan were up from 22 last year to 29 this year (a rise of 31.8 per cent), while in Weyburn, new listings decreased from 29 last year to 23 this year (a fall of 20.7 per cent).
Active listings were down 15.9 per cent across the region (860 in 2019 to 723 in 2020), down 26.3 per cent in Estevan (205 to 151), and down 16.2 per cent in Weyburn (173 to 145).
Inventory in south east Saskatchewan stood at 10.8 months (which is 61.1 per cent below the level last year and 44.2 per cent below the five-year average), while the sales to listing ratio was 54.0 per cent, suggesting what the SRA called balanced market conditions.
Inventory in Estevan stood at 7.2 months (which is 75.4 per cent below the level last year and 60.2 per cent below the five-year average), while the sales to listing ratio was 72.4 per cent, suggesting that market conditions favour sellers.
Inventory in Weyburn stood at 8.1 months (which is 53.4 per cent below the level last year and 38.1 per cent below the five-year average), while the sales to listing ratio was 78.3 per cent, suggesting that market conditions also favour sellers.
In 2020, homes stayed on the market an average of 123 days in southeast Saskatchewan, up 10.8 per cent from 111 days last year (and 17.1 per cent above the five-year average of 105 days and 41.4 per cent above the 10-year average of 87 days).
Homes in Estevan stayed on the market longer than homes in the larger region at 129 days on average in 2020, but also up from an average of 81 days last
year (and 23.8 per cent above the five-year average). Homes in Weyburn stayed on the market for less time than homes in the larger region at 80 days on average in 2020, but also down from an average of 120 days last year (and 14.7 per cent below the five-year average).
Median home prices in the region rose 17.9 per cent, going from $140,000 to $165,000 (13.1 per cent below the 5-year average median price of $189,930 and 22.5 per cent below the 10-year average median price of $212,965). Year-to-date, the median home price in southeast Saskatchewan was $165,562, which is 14.5 per cent below the $193,562 price from the same time last year.
Median home prices in Estevan went from $190,000 to $210,000 (an increase of 10.5 per cent) and were approximately 13.6 per cent below the five-year and 20.3% below the 10-year average median price.
Year-to-date, the median home price in the region was $193,500 which is 16.9 per cent below the $232,962 price from the same time last year.
Median home prices in Weyburn went from $156,500 to $201,000 (an increase of 28.4 per cent) and were approximately 2.1 per cent below the five-year and
12.1 per cent below the 10-year average median price. Year-to-date, the median home price in the region was $214,025 which is 8.6 per cent below the $234,125 price from the same time last year.
