(The Canadian Press)

By paNOW Staff

Realty

November boost in P.A. house market

Dec 5, 2020 | 9:00 AM

Despite COVID-19, Prince Albert house sales are up over 60 per cent compared to November last year. Also, the city is among 11 of 19 markets the Saskatchewan Realtors’ Association (SRA) tracks that have shown an increase in median sales prices, defying earlier predictions of a weak housing market due to the pandemic.

A total of 34 units sold in Prince Albert compared to the 21 units sold in November 2019. Year-to-date there have also been more sales than in 2019, going to 371 from 323.

Median prices are up from $200,000 to $227,500 compared to last November – an increase of 13.8 per cent – and are six per cent above the five-year average. However, year-to-date the median home price in Prince Albert is still 0.4 per cent lower than in 2019.

The Saskatchewan Realtors Association said overall, the province outperformed November 2019 by 54 per cent.

“Although November and December are generally much slower compared with the summer months, over 50 per cent more sales than last November is simply amazing,” SRA CEO Jason Yochim said in a media release. He added early safety precautions like the wearing of masks and suspending open houses had helped to instill confidence in the market, making it easier for people to be in the market.

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Sales in Saskatoon were up over 47 per cent compared to November 2019 but median home prices dipped from $327,000 to $314,500, which is 3.6 per cent below the five-year average.

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panews@jpbg.ca

On Twitter:@princealbertnow