It was another strong month of sales in Moose Jaw’s residential real estate market in April. 

With 64 properties sold, this represents a year-over-year increase of 60 per cent. This is up 28 per cent on the 10-year average for what is typical this time of year. 

Listing relief in Moose Jaw was “solid” last month according to Cole Zawislak, director of public affairs and communications with the Saskatchewan Realtors Assocation. “Up 13.9 per cent year-over-year; 90 new listings in April 2024.” 

Due to strong sales, though, Zawislak said the new listings are not lasting long.  

“If sales continue at this pace, we’re going to run into some issues, but it just remains to be seen whether or not sales will return to the norm for what we see for this time of year, or if we’re going to see strong sales like we have the last couple of months.” 

There were 132 properties in Moose Jaw’s inventory in April, which is a year-over-year decrease of 18.5 per cent, and a decrease on the 10-year average of 52.1 per cent. Saskatchewan’s inventory levels in April were the lowest seen since April 2008. 

With above average sales and continuing inventory challenges, the benchmark price is also on the rise in Moose Jaw. “Up significantly – over 11 per cent year-over-year, and again, that’s 3 or 4 consecutive months now where we’ve seen price gains in the Moose Jaw market.” 

Moose Jaw’s current benchmark price is $238,000, compared to $213,900 in April 2023 – an increase of $24,300.

While it’s difficult to determine the future of the market, Zawislak said all signs are pointing to a busy spring and summer market. “For a smaller market, Moose Jaw’s doing very, very well right now on the resale front.” 

Zawislak added that all levels of government are actively focusing on housing, including Canada’s Housing Plan on the federal level, and PST rebates on new home construction and the secondary suite incentive on the provincial level. 

“It just remains to be seen if that’s going to translate to some new supply or a little bit of relief to our market – not only in Moose Jaw, but across the province." 

Zawislak said it typically takes 12 to 24 months to see relief based on policy changes or incentives.