NB home sales way up

Sask. Realtors report

From the Saskatchewan Realtors Association:

Sales in North Battleford were up 71.4 per cent (going from 14 to 24), up 300 per cent in Meadow Lake (going from 2 to 8) , and up 162.9 per cent in the overall region, going from 35 to 92. In North Battleford, sales were 34.8 per cent  above the 5-year average (and 4.8 per cent above the 10-year average), and were 66.7% above the 5-year average (and 35.6 per cent  above the 10-year average) in Meadow Lake, while in the larger region, sales were 76.9 per cent above the 5-year average (and 51.1% above the 10-year average). Year-to-Date (YTD) sales in North Battleford rose 56.9 per cent over last year, increasing from 65 to 102, rose 160 per centin Meadow Lake (going from 10 to 26), and rose 84.3 per cent in the larger region, going from 153 to 282.

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Sales volume was up 101.9 per cent in North Battleford, going from $2.7M to $5.5M in 2021 (32.1 per cent above the five-year average, and 5.3 per cent above the 10-year average), and was up 382.9 per cent in Meadow Lake, going from $0.5M to $2.5M (90.2% above the 5-year average, and 71.8 per cent above the 10-year average). In the region, sales volume was up 192 per cent, going from $7.2M to $21.1M (86.9 per cent above the five-year average, and 65.1 per cent above the 10-year average). YTD sales volume in North Battleford was $22.6M, an increase of 111 per cent from last year, $7.5M in Meadow Lake, an increase of 269.2 per cent, and was $65.4M in the larger region (an increase of 139.5 per cent from last year).

In North Battleford, the number of new listings in April 2021 rose 125.8 per cent, going from 31 to 70 (24.1 per cent above the 5-year average and 15.5 per cent above the 10-year average), but rose 250 per cent in Meadow Lake, going from 4 last year to 14 (29.6 per cent above the 5-year average and 2.2 per cent above the 10-year average). In the region, new listings rose 113.8 per cent, going from 94 last year to 201 this year (21.5 per cent above the 5-year average and 16.4 per cent above the 10-year average). YTD new listings in North Battleford rose 27 per cent, going from 38 to 48, but rose 61.5 per cent in Meadow Lake, going from 6 to 10, while in the larger region, the number of new listings to date rose 31.7 per cent, going from 105 to 138. Active listings fell 27.5 per cent in North Battleford (down from 189 to 137), fell 9.5 per cent  in Meadow Lake (down from 42 to 38), and fell 20.9 per cent in the region (down from 740 to 585).Inventory in North Battleford stood at 5.7 months (which is 57.7 per cent below the level last year and 45.7 per cent below the five-year average), while the sales to listing ratio was 34.3%, suggesting that market conditions favour buyers. Inventory in Meadow Lake stood at 4.8 months (which is 77.4 per cent below the level last year and 53.7 per cent below the 5-year average), while the sales to listing ratio was 57.1 per cent, suggesting balanced market conditions.

Inventory in the larger region stood at 6.4 months (which is 69.9 per cent below the level last year and 55.0% below the 5-year average), while the sales to listing ratio was 45.8 per cent, suggesting balanced market conditions. Homes in North Battleford stayed on the market an average of 71 days in April, down 15.5 per cent from 84 days last year (but below the 5-year average of 88 days and above the 10-year average of 69 days). Homes in Meadow Lake stayed on the market an average of 143 days in April, up 60.7 per cent from 89 days last year (but below the 5-year average of 148 days and above the 10-year average of 116 days).

Homes in the region stayed on the market for 90 days on average in 2021, also down from an average of 102 days last year (and 14.8 per cent below the 5-year average). The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—varied across different centres in the region. North Battleford saw the price of the benchmark single family home rise 23.6 per cent year-over-year, going from $177,300 to $219,100 while the price of the benchmark single family home in Meadow Lake rose 25.9 per cent (going from $221,100 to $278,400).

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