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    Here’s what happened in Saskatoon’s real estate world during 2019

    JUST THE FACTS

    203 homes were purchased in December that number 39 more than December 2018 when 164 homes were purchased. The average selling price was $333,857. that number 2% lower than December 2018 when the average was $339,132.  The average price year to date is $331,592, even with 2018 when the average was $333, 056. The average number of days to sell a property in December was 67 days, which is 12 days more than the 55 days in December of 2018. Unit sales year to date are 8% higher than 2018 while the number of units listed is down 3%. REALTORS® listed 302 residential properties in December that number 3% lower than the 311 listings in December last year. Year to date listing numbers are 7,745 listings, 3% lower than the 7,956 listed in 2018. Take a close look at the Total Residential New Listings VS Sales graph for all of 2019 and you get a picture of our market. Home buyers had 1,222 homes to select from at the end of the month which calculates out to be approximately 6 months of inventory. The sales to listing ratio for December was 67%, which is considered to be slightly favoring sellers.

    Residential sales activity in communities around Saskatoon was up from December 2018. 49 homes were purchased in December this year, up from the 43 being purchased in December 2018. The average selling price in December was 3% lower that it was in 2018 at $306,788. To the end of December 2,939 properties have been listed in these areas around Saskatoon, this number down 1% compared to the 2,976 property listings in 2018. At the end of December 2019 there were 853 active listings in these areas around Saskatoon, 10% lower than December 2018. Year to date the total number of unit sales was 4% lower at 949 units in 2019 and 986 units in 2018. The average sale price of $295,743 was approximately 4% lower when compared to the same twelve-month period last year – $307,764.

     

    December witnessed a 24% increase in the number of home sales compared to December of 2018 in Saskatoon. The year to date unit sales are up 8% compared to last year. The total number of listings taken in Saskatoon was down 211 listings compared to 2018. My assessment indicates we have more buyers in the market and fewer homes to choose from, this seems to be the trend that began earlier this year. If it continues we should witness price increases as supply shrinks and demand increases. It is important to remember that these changes in pricing are an aggregate of the entire market and will vary based on area, type of home and availability of similar properties to the subject home.  If you are curious what your home would be worth in today’s market, we should talk. I can provide you with detailed information about home sales in your specific neighborhood and what has changed over the past number of years. Call me at 306-280-0989 and I’ll provide you with an up to date market analysis you can take to the bank.

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