Thanks to a near-record first quarter and a record setting second quarter, the Swift Current real estate market is showing no signs of slowing down according to recent sales statistics released by the Saskatchewan Realtor’s Association.
Veteran agent Kelsey Adam, with Century 21 Accord Realty, says he has been keeping sales statistics since 2000 and that so far, this year has been the busiest first half ever.
“We had 66 sales in our first quarter, which was in the top 3 busiest,” Adam said. “Our second quarter sales of 123 far surpassed any other year since I have been tracking it, which brought our first half sales to 189.”
The previous record for second quarter sales had been 108 in 2013, and the previous opening half sale mark had been 172 in 2007.
“2007 had the highest sales figures in Swift Current history,” Adam commented. “To have eclipsed the first half figures of that year by almost 10% is pretty exciting.”
New listings are also up year to date, with 318 properties coming onto the market compared to last year’s 261. Adam said, though, that last year’s new listings were slower than average due to Covid concerns. The average sale price of sold inventory rose 15% over this time last year, currently hovering at $285,000, while the market average sale time is just over 90 days. At the end of June there were 215 residential properties on the Swift Current market, which is down slightly from last year’s 223.
When asked why the Covid pandemic has affected the market as it did, Adam points to a couple main contributing factors. “People have been able to save up their down payment with forced cutbacks to their lifestyle. A trip to Mexico, for example, is a large part of most people’s disposable income,” he said. “The other interesting development is that people’s homes have now also become their office, their gym, their school and their theatre, and because of that, their current house no longer meets their needs.”