2023 Kindersley Real Estate Wrap Up
Overall 2023 was relatively stable for the Kindersley real estate market despite a number of interest rate hikes. Single family detached sales activity year over year 2023 had similar total sales to 2022. The number of new single family builds in Kindersley was limited in 2023 due to high construction costs and increasing interest rates. (Note that the Bank of Canada’s prime overnight rate is currently at 5%). Saskatoon Residential construction costs per Stats Canada Building Construction Price index are up 3.41% over past 12 months. Costs may be levelling off, noting the residential costs are up 39.65% from pre-covid.
Some activity in the Kindersley Commercial real estate market including a handful of MLS sales. There were a few new commercial/industrial buildings constructed including a new Burger King Restaurant, Stream Flo and Department of Highways building to name a few.
Highlight – New RCMP Building built on the corner of 6th and Highway #21. $10.8 million dollar 10,010 sq.ft. steel frame building with office space, contained use areas plus a 969 sq.ft. garage to be completed December 31, 2023*
The Kindersley market weathered COVID relatively well and didn’t have major price spikes as occurred in other markets. As such rising interest rates have not had such a drastic influence to date, as they have in other markets.
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