(File photo/paNOW Staff)

By Jaryn Vecchio

Housing Numbers

Housing sector off to slow start in 2022 across northern Saskatchewan

Feb 3, 2022 | 5:00 PM

The housing sector isn’t having a strong start to 2022 when compared to the previous year.

That’s according to the Saskatchewan REALTORS Association which released its January report on Thursday.

In Prince Albert, there were 21 sales which is down from the 41 sold in 2021. When accounting for the entire Prince Albert region, there were 41 sales last month, down from 68.

The average price for 2022 across the entire region was nearly $212,000. This is down from the previous year as those sales averaged around $229,000.

The city of North Battleford also saw a sizable drop year-over-year. Last month, there were just six sales compared to 19 in January 2021.

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The entire North Battleford region had better overall numbers, seeing 32 sales. This was also down from the previous year as there were 52 sales.

The average price in 2022 was more than $221,000.

As for Melfort, the city had seven sales which matched the total from last year.

When accounting for the entire region, 2021 had a better start. There were 15 sales last month, down from 22.

The average price saw a big decrease with the average property selling for around $33,000 less.

“With changes expected in lending rates, the 2022 housing market is not expected to see the demand levels as 2021,” said Chris Guérette, SRA CEO. “However, it is still early in the year, and like I have said before, my biggest concern for 2022 is inventory.”

All three regions are seeing drops in inventory.

Across the Melfort region, there are 103 properties on the market, a 40 per cent decrease from 2021. In P.A. there are 289 properties up for grabs, a 28 per cent yearly decrease. In North Battleford, there are 481 properties available, a roughly five per cent drop.

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Jaryn.Vecchio@pattisonmedia.com

On Twitter: @princealbertnow