Land & Real Estate

Strong Demand For Houses Remains as Bank of Canada Holds Rates On The Economy Q3  2023

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Saskatchewan remains a very attractive place to buy a home and land.  Saskatchewan resource and agriculture sectors are attracting billions in capital investment and adding fuel to the demand for development and houses. The Saskatchewan real estate market seems to be operating in a increasingly segmented manner over the past year,  with lack of supply and low inventory in residential, to commercial where supply is greater than demand and in a price-corrective process.  There is a strong demand for farmland for agricultural production, as concerns of global food supply and sustainability rise.  The shortage of affordable houses in prime urban areas has seen a shift by builders and developers to look there for growth opportunities. 

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"Sales activity slowed for the second consecutive month, contributing to a year-to-date decline of 19 per cent. Further declines in new listings kept inventory levels 36 per cent below 10-year averages for the month and the months of supply remained under four months.

Saskatoon reported a benchmark price of $372,400 in February, up from $366,000 in January and nearly three per cent higher than this time last year. "

Saskatchewan Realtors Association - Market Report