Kindersley real estate appears to be holding steady despite the volatile oil market and reports of a five-year increase in Canadian house prices.

Statistics Canada recently shared data showing a 43 per cent increase in comparative market analysis of house prices over the last five years. However, Bill Larocque, Broker for Royal Lepage Wheat Country Realty, says Kindersley has not seen those same trends.

“The last five years have relatively stayed the same. We have seen an increase in home prices within Kindersley over the last five years but only by about $15,000,” said Larocque.

He added that the oil industry does affect how many new people are moving into the town but said he doesn’t attribute those numbers having a quantifiable impact on the local housing market.

The real estate landscape is currently slanted in the buyers favour within the chain of supply and demand.

“We do need buyers right now but we are sitting with anywhere from 55 to 65 active listings within Kindersley, which is fairly standard, but we are seeing a price gap between house price and the budget of the buyers,” said Larocque.

According to numbers from April 25, 2019, there current active listings by price include:
• $200,000 and below – 7 listings
• $201,000 - $300,000 – 18 listings
• $301,000 - $400,000 – 14 listings
• $401,000 - $500,000 – 7 listings
• $501,000 and above – 5 listings

Houses priced between $175,000 - $ 250,000 reportedly have the shortest shelf-life, with Larocque stating, “they do not last long”. Homes listed from $251, 000 to $400,000 are said to see movement within a 90 day time-frame; homes over $400,000 do have a noticeably smaller buyers market and Larocque shared they can be on the market for upwards of six months or more.

He added, there are always outliers in every price bracket and some homes listed above $400,000 may go within a week because it checks all the boxes for a certain buyer, or vice versa for a home in a lower price bracket.

The current information eludes to the stability of the local market with Larocque stating although we may not see hot and cold times, those who do purchase homes can expect to retain their homes value within the Kindersley market.

Recent statistics show the current average listing price for a home is $330,522, with the average sale price over the last 12 months was $268,917.