Pent up demand apparently pushed up sales of Moose Jaw real estate during August.
The surge in demand saw the median home price increase 6.9 per cent to $210,000 in August, according to the monthly report by the Saskatchewan Realtors Association.
Year-to-date median home prices are only .4 per cent below last year’s level after eight months.
Sales in August increased 12.2 per cent month over month from 63 units to 82, with sales volume up 12.6 per cent to $12.25 million.
The number of new listings fell to 79 from 95. The sales to listing ratio was 69.9 per cent, indicating this is a seller’s market. Inventory was 4.3 months worth of sales, 36 per cent below last year.
Houses stayed on the market an average 59 days, down from 67 days in 2019.
The COVID-19 pandemic “doesn't appear to have turned people off from buying and selling,’’ association CEO Jason Yochim said in a news release.
Across the province year over year sales were up 46 per cent, listings increased five per cent and the median price was up seven per cent.
Sales were up in 14 of 19 markets,
Median home price year to date in Moose Jaw of $213,875 is fourth highest of nine major markets.
Highest median home prices are Saskatoon, $329,456; Regina, $291,541 and Swift Current, $233,569.
Following Moose Jaw are Prince Albert, $205,604; Yorkton, $204,781; Melfort, $184,469; North Battleford, $174,431; and southeast Saskatchewan.$165,562.
Ron Walter can be reached at [email protected]
