For Sale signs in Prince Albert. (Nigel Maxwell/paNOW Staff) 

By Glenn Hicks

housing market

P.A. house prices rise but total sales remain slack

Nov 7, 2019 | 1:55 PM

There is some continued slight upward movement in Prince Albert’s depressed housing market although it’s not clear if that will continue.

The Saskatoon Region Association of Realtors (SRAR) is reporting 37 homes sold in the city in October. That’s compared to 28 sales for October 2018.

The average sale price last month was also up at $249,977, which is a six per cent increase on the $234,989 from October 2018. September’s average selling price in the city was also up six per cent from the same month last year.

However, there have been only 289 sales in the city this year so far which is the lowest year-to-date total in recent times and even lower than the 292 by October of 2018. In 2017 there were 342 sales through the first 10 months of the year, and in better economic times, back in 2012, there were 467 sales for the year through October.

“Overall property values are pretty much level from one year ago, down about 0.6 per cent,” SRAR interim CEO Trevor Schmidt told paNOW in an email. “Over the course of the last 10 months overall home values are up about 10 per cent, with the upswing starting in about March of this year.”

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He added it was too soon to say if the uptick in October suggested a trend because sales and listings can fall off this time of year.

“A seasonal dip is not uncommon …we’ll watch the next few months with interest,” he said.

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glenn.hicks@jpbg.ca

On Twitter:@princealbertnow