If you are looking to buy a house in Moose Jaw, open up your wallet because it is going to cost you.
For the sixth consecutive month, Moose Jaw has led the province in real estate price growth, according to the Saskatchewan Realtors Association’s January statistics.
The total residential benchmark price for Moose Jaw in January was $256,000, a 15.1 per cent increase from January 2024.
Even more significant, the majority of sales year-to-date in January 2024 ranged from $100,000 to $199,999. Shifting to January 2025, the majority of sales are now in the $200,000 to $299,999 range.
“Anytime we have strong demand like we’ve seen in Moose Jaw coupled with those inventory challenges, we do see the impact on prices, and, again, that’s leading to Moose Jaw leading the way in price growth across the province for six consecutive months now,” said Cole Zawislak, director of public affairs and communications with the Saskatchewan Realtors Association.
Sales in January continued to be strong. There were 26 new sales last month, which is up seven per cent year-to-date compared to the 10-year average.
The challenge comes in Moose Jaw’s inventory. There were 46 new listings in January, a decrease of 28.8 per cent from the 10-year average, and inventory dropped to 111 listings, which is down 43.3 per cent from the 10-year average.
The months of supply is 4.27, which is down 50.3 per cent over the 10-year average.
Looking deeper into Moose Jaw’s inventory, the situation doesn’t look much better in the future.
“That number is already down to 94 when you factor in conditional sales that are, again, expected to go through and fall off the market when you do a deeper dive,” Zawislak said.
“We talked about the $200,000 to $299,000 (range), only 79 of those units are detached homes, which is far and away the most popular segment of the market, not only in Moose Jaw.”
With the United States announcing tariffs on steel and aluminum, and the threat of widespread tariffs on Canadian products, and counter-tariffs, it leaves uncertainty in the real estate market.
“Anytime it’s widespread affecting a number of products that go into building homes, that’s concerning, especially considering the fact that prices are creeping up here in Saskatchewan on their own. We know we’re not building enough as it is,” Zawislak said.
He added that Saskatchewan would need to build 60,000 to 80,000 units to catch up with demand.
