Richard Froese
South Peace News
Realtors serving the High Prairie region are hoping for better results in 2025 after a challenging year in 2024.
Grassroots Realty Group realtor Misty Gaudet predicts the local market will be more active in 2025.
“As we progress through 2025, keeping a close eye on inventory levels, buyer behaviour and broader economic factors will be essential,” Gaudet says.
“The real estate market is poised for an interesting year ahead and those who are prepared to adapt to changing conditions will find success in this dynamic environment.”
She says the local market has some issues.
“Looking forward to 2025, the persistent low inventory poses both challenges and opportunities,” Gaudet says.
“While buyers are eager to purchase homes, the limited available properties could lead to increased competition and potentially higher prices for those that do hit the market.”
Sellers who take the time to price their homes accurately and present them well are likely to reap the benefits as properties are moving quickly when they meet those criteria, she adds.
To navigate that evolving landscape, both buyers and sellers must stay informed about market trends and pricing strategies, she advises.
“For buyers, understanding the importance of acting swiftly on well-priced homes will be a key, while sellers should focus on proper staging and pricing to attract attention in this competitive environment,” Gaudet says.
She says a shift in buyer behaviour started last year.
“We are witnessing a clear willingness to act quickly when the right property presents itself,” Gaudet says.
“The consistent demand for well-priced homes, even amidst lower inventory levels, suggests buyers are motivated and ready to make decisions.
“The uptick in sales during January – a month that typically sees less activity – further shows this trend, highlighting a potential change in the seasonal patterns we have come to expect in the real estate market.”
She says sales in late summer and the fall months took a tumble.
“The record lows in sales during August, September and October were surprising, especially during what is usually a peak selling season,” Gaudet says.
“However, the correlation between the uptick in activity and the American presidential election week cannot be overlooked.
“Historically, major political events can influence buyer sentiment and market dynamics and it seems that this election cycle may have sparked renewed interest in real estate.”
Royal LePage PVR Realty broker-owner Debbie Nelson projects business will pick up in the coming year.
“My prediction for the 2025 market is optimistic but hesitant,” Nelson says.
“Due to the high cost of construction, I don’t foresee any new housing for the area soon.”
She adds the shortage of inventory will be a plus for the sellers as it will create a sellers’ market, which may cause a slight increase in the list prices.
“All in all, the north offers a variety of job possibilities, recreation, sports, and a safe place to raise a family, which will hopefully help to put a positive spin on the 2025 market,” Nelson says.
But she is cautious with a change in government leadership in Canada and the United States.
“As we head into the 2025 market, there is still skepticism in the economy due to rising costs to live and the political theatre at the moment,” Nelson says.
Although the reduction in the interest rate has generated interest in buying, the lack of inventory, especially in the range from $250,000- $300,000, is creating hurdles.
The residential market in the High Prairie region started out fairly strong in 2024 with highs and lows, with sales prices ranging from $100,000 to $300,000 and very few sales in the $300,000-$400,000 range, she says.
“We experienced a slowdown in the second and third quarters with very few sales,” Nelson says.
“The fourth quarter showed some optimism and slight increase in activity, which seems to have carried into 2025.”
Sales last year were a mix of local people relocating in the community and newcomers to the region purchasing homes, she says.
Acreage sales were minimal because of a lack of inventory of what the consumer was searching for, such as a newer home and municipal water services.
“There is still an ongoing interest in acreage and country residential properties in Big Lakes County,” Nelson says.
“I believe this need is generated by buyers looking for space and the quiet that country living offers.”
Requests for residential rental units were still high in 2024 and continue into 2025.
“There is still a real shortage of modern rental units in High Prairie,” Nelson says.
“People relocating to the High Prairie area to work and wanting a short-term family rental, depending on job probation periods, prior to purchasing a home, are not finding rentals sufficient for their purpose.”
She notes that several people have also inquired about commercial lease space.
Century 21 Sunnyside Realty broker-owner Gord Olson projects 2025 will be better than 2024.
“The outlook for this year look optimistic,” Olson says.
“A busier-than-normal last quarter of 2024, along with reasonably stable interest rates would point to more sales.”
He notes residential rental units remain in high demand.
“Rental properties are still a hot commodity,” Olson says.
“High Prairie typically has a low vacancy rate and we went from an absolute zero vacancy rate back to a difficult market if you need to rent something.”
Last year was slower in sales, with 43 residential properties sold in the High Prairie region for all local realtors, he says, compared to 101 in 2023 and 99 in 2022, he says.
“I’m not totally sure why but my thoughts are obviously the issue of inflation and the high cost of living, coupled unstable interest rates made it too expensive for lots of people,” Olson says.
“Dropping rates made people wait to see how low they were going to go.
“People kept their hands in their pockets.”
He says actual interest rates are not necessarily the barrier to people buying.
“People bought homes with double-digit interest rates in the 1980s, but uncertainty definitely keeps people from buying, whether the threat is if they’re going up or the promise they’re coming down,” Olson says.
Homes in High Prairie
Under $100,000 – 3
$100,000-$199,999 – 12
$200,000-$299,999 – 13
$300,000-$399,999 – 8
$400,000-$499,999 – 1
Acreages
$200,000-$299,999 – 1
$300,000-$399,999 – 1
$400,000-$499,999 – 2
$500,000-$599,999 – 1