Real estate in Estevan is a seller's market right now despite coal being phased out, according to a residential salesperson in the Energy City.

The Saskatchewan Realtors Association said that the city of Estevan was the only region in the province with yearly and monthly benchmark price decreases in its July numbers.

Estevan's total residential benchmark in July fell 1.7 per cent to $214,200 year-over-year.

Re/Max Blue Chip Realty's Rhonda Blanchette chalked that up to there being very little inventory available, especially in the higher price range.

"We don't have an inventory of higher-end prices. So if we had a few and sold them then that would bring the benchmark price up, right? And so throughout the province, a lot of the cities are seeing the trend that pricing is up and we are one of the only ones where prices decreased year to date."

Saskatchewan had 1,560 sales reported in July, which was a 9-per-cent year-over-year increase, and 13 per cent above the 10-year average. The Saskatchewan Realtors Association said a lot of that increase was driven by properties priced below $300,000.

Blanchette said most of what's selling in Estevan is in the $200,000 to $300,000 range.

She said a few of those buyers are first-time homeowners, but many have been people on the opposite side of the age demographic.

"In Estevan the last year, I've had a lot of older people moving back to be closer to family. And I don't know why that seems to be a trend. Maybe it's just busier in Alberta and Ontario and places they're coming from, or just at a time in their life. I would bet I've had seven or eight older couples move back to be close to their kids and grandkids."

There were 17 sales in Estevan in July (up 54.5 per cent year-over-year), 25 new listings (up 4.2 per cent year-over-year), and an inventory of 109 (up 11.2 per cent year-over-year).

You can find more details on trends by region here.

Blanchette said that July is typically a slower summer month, even though this year's was busier than in 2022, with people taking vacations and wanting to move either right after school or towards the end of summer.

"A lot of people are unsure and they think maybe the market a little low, and it's really not the case. There's still a lot of buyers. A lot of us agents have multiple buyers waiting for the right home and they just haven't found it yet. So if anyone's considering selling, it's definitely a good time to sell and and their value will be higher than a typical market because of the trend here that we're seeing."