As housing prices soar across the province, Weyburn’s stable and affordable market is being positioned as a key strategic advantage for local economic growth, helping to attract everyone from new Canadians to retirees looking for a better quality of life.
The latest market statistics from the Saskatchewan Realtors Association show the benchmark price of a home in Weyburn was $246,300 in June, a figure that is over $120,000 less than the provincial average of $370,700. According to Monica Osborn, Executive Director of Weyburn Regional Economic Development, this affordability is a cornerstone of the city’s strategy to attract new residents.
“We are going to be relaunching our ‘Why Not Weyburn’ campaign and focusing on the fact that Weyburn is so affordable for living,” Osborn said. She sees it as a great opportunity for those who have been renting to transition into home ownership, or for retirees to move to a community where their money goes further.
“Rather than being taxed with a house that you're in that happens to have high mortgages, and then you don't have that quality of life,” Osborn explained. “When you move to Weyburn, you have that ability to go out and explore and do things.”
This strategy aligns with a local job market that shows signs of steady growth. Osborn noted there is job stability in Weyburn, with many outstanding positions to fill alongside new businesses opening in the city. This steady activity supports the demand seen in the housing market, which recorded 13 sales in June.
While the market is stable, it faces the same inventory crunch seen across the country. According to SRA data, Weyburn’s housing inventory is down 28.3 per cent from last year and sits 54.3 per cent below its 10-year average. When asked if this could hinder the ability to attract a major new employer, Osborn acknowledged the challenge but pointed to positive local signs.
"It's not just Weyburn itself that has low housing, it's kind of all over," she said. "But at the end of the day, there are new homes that are being built in Weyburn, which is great to see."
Osborn also highlighted Weyburn's proximity to the provincial capital as an advantage in managing workforce housing pressures.
“We are only an hour from Regina,” she said. “The commute to Regina is readily available for anyone to come down to work here in Weyburn. We can use that hour from Regina to our advantage.”
To support its growth strategy, Osborn said the community needs a wide range of housing options.
“A variety of housing can certainly withstand in Weyburn, whether that's single-family dwellings up to apartments or condominiums,” she stated, noting the need to accommodate both young families wanting yard space and newcomers seeking a community feel.