May home sales in Regina see year-over-year decrease, report says

Regina saw an eight percent decrease in home sales in May 2023 compared to the same time one year ago, a report from Saskatchewan Realtors Association (SRA) says.

There was 418 sales reported in May in the Queen City, with a benchmark price of $316,000, up from $311,200 reported in April.

“Although sales eased on a year-over-year basis, they remain far higher than the 10-year average and pre-pandemic levels,” the report said.

Inventory levels are “well below” what is traditionally available in May, SRA said.

Adjustments in new listings resulted in annual inventory gains in the Moose Jaw, Swift Current, Yorkton and Melville regions, the report said.

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Provincially there were 1,736 sales recorded across all of Saskatchewan, which represents a four percent year-over-year decline, SRA said.

Sales levels were still 20 percent above long-term, 10-year averages, the report said.

Province wide the average home price was $329,600 in May, according to the report.

Saskatoon saw 538 sales in May which was nearly identical to May of 2022.

The benchmark price in Saskatchewan’s largest centre was $380,100 in May, which the SRA said represents a monthly gain of almost two percent.