House prices continue to climb as P.A. follows provincial trend

The housing market remains buoyant with Prince Albert following the provincial upward trend following the COVID-induced downturn of spring last year.

According to the Saskatchewan Realtors Association’s (SRA) May report, the MLS Home Price Index benchmark for a house in P.A. has increased by a further 1.3 per cent from the previous month, moving from $183,100 in March to $185,500 in April. And compared to April last year that benchmark price has risen 15 per cent from $161,300 to $185,500.

Chris Gbekorbu, SRA’s economic analyst, said April was a record sales month for the entire province with 1,865 homes sold. He said while it isn’t fair to compare last month’s figures with April 2020, the spike in sales is the best ever, exceeding the 1,801 last July. That’s when the market bounced back from the initial jolt of the pandemic. Before then, the record month was 1,609 sales in May 2014.

Over the first four months of this year 3,795 homes have sold across Saskatchewan compared to 2,208 over the same period in 2020.