Average Home Price Drops In March

It was a bit of a mixed bag on the real estate market locally in March as there was a slight decrease in the number of homes sold compared to same month in 2019 but price-wise there was a significant drop versus March 2019.

According to sales figures released by the Saskatchewan Realtors Association the number of homes sold fell from 33 in March 2019 to 31 homes sold in 2020. A year over year drop of 6.1 percent.

The average home value in Moose Jaw took the third largest percentage drop year over year falling 18.3 percent to $219,019.

The average selling price of a home sold in Moose Jaw fell from $235,416 in February to $219,019 in March. The average selling price in January 2020 was $210,466 in Moose Jaw.

The provincial housing market in March 2020 - source Saskatchewan Realtors Association

Provincial housing markets which saw larger year over year larger drops percentage-wise in values than Moose Jaw were Yorkton at 45.1 percent and Weyburn at 34.3 percent.

All other housing markets value-wise were up compared to March last year. The highest average selling price is in the Saskatoon market where a home had an average selling price of $347,189 in March.

The number of home sales in Moose Jaw were 11.4 percent below the five year average for March.

The provincial housing market in February 2020 - source Saskatchewan Realtors Association

Year to date sales are slightly down from 83 in 2019 versus 80 in 2020 or a drop of 3.6 percent compared to last year.

The number of listings on the market also saw a slight drop from 89 to 87 which is 12.3 percent below the five year average.

Active listings in Moose Jaw is 255 or down 9.6 percent versus last year and 13 percent below the five year average.

Despite the drop in listings the Saskatchewan Realtors Association said Moose Jaw was a market as suggested by the sales to listing ratio of 35.6 percent.

Homes in Moose Jaw stayed on the market an average of 86 days in March—up 6.2% from 81 days last year (and still above the 5-year average of 69 days).