Beat Down On Home Sales Continues

By Robert Thomas

It was another tough month in the real estate market as total sales and available houses for sale were well below the average in April 2022, the ten year average as well as the year to date average compared to 2022.

In their April 2023 market report the Saskatchewan Realtors Association has reported yet another month of deterioration in the Moose Jaw housing market from their members.

In April there was a total of 40 home sales which is a drop of 39 percent when compared to April 2022.

The 10 year average for home sales is 51 in April. Meaning that last month’s home sales were 21 percent below the 10 year average.

Year-to-date home sales in Moose Jaw has seen 132 homes sold which translates into a 29 percent reduction, compared to the same period in 2022.

Benchmark Price

The one saving point for sellers was that the benchmark house price fell only a marginal amount of half of a percentage compared to April 2022.

What it means is there is a stability in the benchmark house price.

The benchmark price for April 2023 is $243,500.

The supply of hoses on the market continues to be a problem as the multiple year trend continues.

Additionally, although I’m not part of the report, the City of Moose Jaw had no permits taken out for new home construction in the first three months of 2023.

It also needs to be noted traditionally, the first four months of the year are the slowest times for house sales in Moose Jaw.