Home For Sale (The Canadian Press)

By paNOW Staff

realty

Property sales and prices continue to climb in P.A.

Apr 11, 2021 | 8:00 AM

Prince Albert is following the upward trend in housing sales being seen across the province as the market keeps rebounding from the difficult start to the pandemic last year.

According to the latest statistics from the Saskatchewan Realtors’ Association (SRA), 134 homes have sold in P.A. over the first three months of this year, compared to 57 properties sold over the same period in 2020.

The March figures put the benchmark price of a house in P.A. at just over $183,100, which is up over 12 per cent compared to this time last year when the price was $163,400.

“We’ve never seen a March like this before,” Chris Gbekorbu, SRA economic analyst said in a media release when commenting on the province-wide stats. “In fact, we typically don’t see this level of sales until at least May. And until June of last year, we hadn’t seen this level of sales since May of 2014.”

Gbekorbu said across the province there were 1,719 homes sold in March which is up over 85 per cent from March 2020 and up 71.9 per cent year-to-date, going from 2,208 to 3,795 sales.

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In Prince Albert, the March sales were up 79.2 per cent at 43 units compared to 24 in March 2020. In the wider Prince Albert and region, sales were up over 138 per cent with 81 properties sold compared to 34 in March last year.

Reflecting on the provincial picture, Gbekorbu said strong demand combined with a shrinking number of homes for sale has helped place upward pressure on prices in most markets.

“People are still listing homes on the market and they still want to buy—sometimes leading to homes being sold within days of being listed. As a result, the market remains strong and isn’t showing any signs of slowing down yet.”

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panews@jpbg.ca

Twitter: @princealbertnow