Homes continue to sell in Prince Albert and area, with the PA benchmark now at $241,000. (file photo/paNOW)

By Susan McNeil

Prince Albert benchmark home price tops $240,000

Mar 6, 2024 | 2:01 PM

Homebuyers in Prince Albert are looking at another increase in costs as the city’s benchmark home price now sits at just under $241,000.

That marks a 0.9 per cent increase, which while growing is smaller than increases were last year which topped two per cent.

February statistics from the Sask. Realtor’s Association show a 17 per cent increase in the number of homes sold. The 34 homes sold is also 26 per cent higher than the 10-year average.

READ MORE: Sales strong in January

As has been happening for months, supply is also shrinking with 126 homes in the inventory, a reduction of 25 per cent from last year.

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The largest number of homes sold last month were in the $100,000 – $199,999 range but sales happened in other price ranges too. In the $500,000 – $599,999 range, five homes were sold, compared to one in 2023.

The rural area around Prince Albert also had some activity with a 3.4 per cent increase in sales to hit a benchmark of $234,700. The 115 sales in the city and surrounding area was a 7.5 increase over the previous period.

However, inventory is also down 18 per cent the broader category with 822 listings. There were 201 new listings in February, an increase of 8.6 per cent compared to 2023.

Overall, home sales last month were higher than the previous February both within Prince Albert and when the larger area is considered as well.

The screenshot from the February report of the Sask. Realtors Association shows strong sales compared to Feb. 2023.

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susan.mcneil@pattisonmedia.com