Estevan's real estate market remains strong, according to representatives from Estevan's two foremost listing agencies.

Lorna Pylychaty from RE/MAX Progressive Realty said that five properties have been sold this month. There are 15 more conditional sales. The activity is higher than normal, and Pylychaty hopes that the market remains buoyant for the rest of the year.

“Typically it's quieter in January, and then it usually picks up in the middle or the end of February,” said Pylychaty. “This is a good kick-start for the year.”

There were 61 properties on the market as of January 18, Pylychaty said. That number includes mobile homes and condominiums, but it doesn't include conditional sales. And there's a good mix of available properties, ranging from the condominiums and mobile homes, to two-bedroom or three-bedroom bungalows, to high-end properties.

Pylychaty expects the buoyant market to continue for at least a few months.

“There are a lot of people, a lot of companies, that are looking to come to Estevan,” said Pylychaty. “We're getting phone calls all of the time from different companies who want to come. It's really positive when the big companies want to come.”

Estevan seems to have found the happy middle ground between a buyer's market and a seller's market, Pylychaty said.

Lynn Chipley from the Century 21 Border Real Estate Service said 2010 was a record-setting year in the southeast, both in terms of the number of sales and overall dollar values.

“In excess of 350 properties changed hands,” said Chipley.

Inventories are about 25 per cent lower than at this time last year, Chipley said. Renters are used to having a lack of choices, Chipley said, and now buyers have fewer options, too.

“It's been good news for the small towns, though,” said Chipley. “There's been more activity in places like Torquay, Oxbow and Lampman … because they're still more affordable than here.”

There are some older, high-end resale properties that are still available – 30-year-old homes that are worth at least $400,000. And there are a lot of condominiums that can be purchased in Estevan, she said, but some of the available condos are still under construction.

New City-owned lots are needed, Chipley said. The last of the serviced, City-owned lots were sold in the summer of 2010, and the next batch of 24 lots won't be available until this summer. She believes that it could stall the market for people who want to upgrade their homes.