WEYBURN – Saskatchewan set a housing sales record with 17,387 sales in 2021, a new high which surpassed the previous record in 2007 by 17 per cent. While the pandemic has triggered vast disruptions and challenges for some sectors of the economy, housing boomed.
In Weyburn, sales totaled 151 for 2021, which is up 18 per cent from the previous year, with six sales in December. Broken down for the year, 122 sales were of detached homes, seven were attached, 17 were apartments and five were mobile homes. There were a total of 277 new listings in Weyburn on the year, up four per cent from a year ago.
“Improved savings from those not financially impacted by COVID-19, combined with low lending rates has supported the strong sales environment we saw throughout 2021. For Saskatchewan, this shift was welcome news as the economic landscape pre-pandemic caused challenges in the housing market,” said SRA CEO, Chris Guérette.
Every region except the Southeast region hit a record level of sales in 2021. However, all areas did record substantial gains in sales this year and were all well above long-term averages for their region. All regions also recorded easing supply levels and tightening months of supply, causing many regions to shift from conditions that favoured the buyer to one that favoured the seller.
Prices did improve in every other region, ranging from an annual gain of 13 per cent in Warman to the lowest price gain of three per cent in Weyburn.
Sales of real estate in Weyburn in December totaled six, which is down 40 per cent year-over-year.
There were 15 new listings in Weyburn in December, which is up 200 per cent year-over-year, and Weyburn’s inventory of real estate is 106 listings, down 13.1 per cent year-over-year.
Weyburn currently has 17.67 months of supply of real estate listings, which is up 44.8 per cent year-over-year, and year-to-date it’s down by 19.8 per cent.
The total residential benchmark price in Weyburn is $227,600, which is up 12.9 per cent year-over-year.
This benchmark price is for a three-bedroom home with two baths, attached garage and a gross living area of 1,144 square feet.
For a single family three-bedroom home with 1,170 sq.ft. of living area has a benchmark price of $240,900; a one-storey home with three bedrooms and 1,135 sq.ft. of area has a price of $245,400, and a two-storey three-bedroom home with 1,410 sq.ft. living area has a benchmark price of $227.400.
For a two-bedroom apartment in Weyburn with one bath and a living area of 1,009 sq.ft. the benchmark price in December was $142,500.