(The Canadian Press)

By Glenn Hicks

property

Better August for P.A. house market

Sep 5, 2020 | 12:00 PM

Although the early summer steam appears to have gone from the hotter provincial property market, officials say there’s still life in it.

Prince Albert followed a trend of higher August sales compared to a year ago, although median prices declined.

The Saskatchewan Realtors’ Association (SRA) said in a media release the latest provincial figures appeared to show a slowing down compared with June and July. That’s when there was a bounce-back of sorts following the quiet weeks of spring when the COVID-19 pandemic. But the SRA said there were still “signs of strength.

“Across the province, year-over-year sales were up over 46 per cent from August of last year (and up over 14 per cent year-to-date), new listings were up nearly 5 per cent year-over-year (but down just over 9 per cent year-to-date), and the median sale price was up over 7 per cent (up 0.2 per cent year-to-date),” CEO Jason Yochim said.

Prince Albert

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The August figures for Prince Albert show sales were up 18.6 per cent, going from 43 in August 2019 to 51 in August 2020, and up 18.5 per cent in the overall region, going from 81 to 96. In Prince Albert, sales were 31.4% above the 5-year average (and 21.4% above the 10-year average), while in the larger region, sales were 23.7 per cent above the 5-year average (and 27.5% above the 10-year average).

The SRA said median home prices in Prince Albert went from $215,000 to $205,000 (a decrease of 4.7%) and were approximately 0.2% below the 5-year and 3.5 per cent below the 10-year average median price. Year-to-date, the median home price in Prince Albert was $205,604 which is 1.5 per cent above the $202,550 price from the same time last year

Saskatoon

Sales in Saskatoon were up 41.8 per cent, going from 325 in August 2019 to 461 in August 2020, and up 47.7 per cent in the overall region, going from 449 to 663. In Saskatoon, sales were 26.8% above the 5-year average (and 25.1 per cent above the 10-year average.

Median home prices in Saskatoon went from $309,000 to $336,000 (an increase of 8.7%) and were approximately 3.3 per cent above the 5-year and 2.7 per cent above the 10-year average median price.

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glenn.hicks@jpbg.ca

On Twitter: @princealbertnow