Housing market in Kindersley remains stable
BY JOAN JANZEN
joanjanzen@yahoo.com
While driving down the streets of Kindersley, you may have noticed a considerable amount of houses for sale. In an effort to obtain a clear perspective of home sales in Kindersley, I contacted a couple of realtors who have been in the business for numerous years. Brad Edgerton, broker/owner at Edge Realty, has worked in the industry for 24 years, and Bill Larocque, broker/owner of Royal Lepage Wheat Country, has 18 years under his belt. Both men gave a comprehensive outlook on the housing market during this unique time we’re living in.
Brad Edgerton noted, during the early part of the summer, they had twenty-five percent more listings than they had at the same time last year. “The listings now are about the same as last year due to recent sales and some cancellations due to COVID 19,” he said, adding, “Listing prices are similar to last year’s, but selling prices are five to ten percent lower.”
Bill Larocque reported they had slightly over 100 homes listed in mid-July, compared to around seventy homes listed during the same time last year, with the average price of a home at $256,000, including mobile homes. Of the 39 homes sold from January to August 18th, 2020, thirteen were in the $100,000 to $200,000 price range, and eight were in the $300,000 to $400,000 range. Twenty-nine homes were sold during the same period in 2019.
Spring and summer are the most popular time for home sales. According to Edgerton, the homes most in demand are in the $200,000 to $300,000 range, but they also have had sales in the $400,000 to $500,000 range. During the summer months, the majority of buyers have been first-time buyers and families moving up to a larger home.
The number of homes selling may partly be attributed to low-interest rates. “Interest rates are the lowest they have been,” Edgerton observed. “Banks are quoting rates 1.7 to 1.9 percent.” Realtors always recommend buyers get pre-approved and check available interest rates.
“I believe more homes are being sold at this time because of the lull in March and April,” Larocque observed. He also noted that prices have stayed consistent over the past seven years, providing a stable market.
The majority of people who are listing their homes are moving because of employment, being transferred, or are upgrading to a larger home. Edge Realty has had out-of-province buyers purchase property in Kindersley and surrounding towns, as well as a few people moving into town with government or oilfield jobs who have made purchases. However, most sales are by first time local buyers or buyers wanting to upgrade.
“Buyers definitely prefer homes that do not require renovations or updating,” Larocque said. After working in the real estate business for so many years, these two men know what they’re talking about, and are diligently serving this town and surrounding area.
