
Swift Current’s real estate market had a strong rebound in 2024.
The 286 homes sold marked a 9% increase on 2023 and was 4% above the 10-year market average.
“We did have a little bit of a lull in 2023,” said Century 21 Accord Realty agent Kelsey Adam after releasing his annual State of Real Estate address. “So to come out this past year and really kind of kick the market in the butt again was nice to see.”
Adams’ numbers come from data released by the Saskatchewan Realtors Association.
Interest rates started to decline as the year went on and saw a market that went against usual trends.
“We had a probably a stronger second-half of the year than we did the first half,” Adam said. “We typically see a busier first six months, but I don’t think that happened in 2024. That is attributed to a kind of a trifecta of interest rates being lower, economy being strong, and I think our population is coming up a little bit. People are moving into town, they have jobs, they need places to live.”
The average home price went up 5% from 2023 to $273,652.
“What we’re seeing more affecting the home prices is a lower inventory,” Adam said. “Our inventory year over year dropped 6% below the 10-year average. That lower inventory is making the market a little bit tighter for buyers. Still good options out. there, but supply and demand does mean that our prices are going up a little bit.”
There were 463 new listings for Swift Current in 2024, a 3% dip from 2023.
“The trends are similar in the in the outlying areas,” Adam said. “Our inventory in places like Herbert or Cabri, Pennant, Wymark, Waldeck still is very low. Now it has not seemed to affect the prices as much, because as people move out to these affordable homes, there’s also other costs that they have to associate with traveling into the city for work or traveling into the places for shopping. We are seeing very attractive prices, but we’re also seeing people not as open to moving to a smaller community with limited services to it.”
Adam noted less inventory also means it’s a good time if you’re thinking about selling your home.