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Here’s what’s new in Saskatoon’s real estate world.

203 homes were purchased in January that number 11% higher than January 2017 when 183 homes were purchased. The average selling price was $344,771. that number 1% higher than January 2017 when the average was $341,260.   Unit sales year to date are 11% higher than 2017 while the number of units listed is down 2.5%. REALTORS® listed 616 residential properties in January that number 14% lower than the 717 listings in January last year. Year to date listing numbers are 1,610 listings, 9% lower than the 1,706 listed at the end of January 2017. Sales in the region surrounding Saskatoon, which includes Warman and Martensville showed a 27.5% increase with 65 homes selling. Of the 203 homes that sold in January there were 20 additional sales over $400,000 compared to January 2017. My interpretation is that January’s buyers were purchasing homes in the higher price ranges, probably because they perceive excellent value for these homes and they had the capacity to buy. As we move into the spring if inventory levels continue to decline due to absorption and fewer properties being listed we may see a more balanced market and possibly additional price increases. The number of active listings in Saskatoon at the end of January was 1,529, the lowest level in the past 3 years for January and a 4% reduction from last year. This was aided by the increase in sales and a 14% decline in the number of new listings for January. To discuss how these numbers affect your property value please call me at 306-280-0989 and we can talk about your individual situation, because everyone’s situation is unique.

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