Here’s what’s new in Saskatoon’s real estate world.
JUST THE FACTS
335 homes were purchased in April that number 7% higher than April 2017 when 314 homes were purchased. The average selling price was $338,424. that number 6% lower than April 2017 when the average was $361,875. The average price year to date is $335,469. 4% lower than in 2017 when the average was $347,947. The average number of days to sell a property in April was 52 days, which is 2 days longer than the 50 days in April of 2017. Unit sales year to date are 5% lower than 2017 while the number of units listed is down 14%. REALTORS® listed 787 residential properties in April that number 7% lower than the 842 listings in April last year. Year to date listing numbers are 2,594 listings, 14% lower than the 3,024 listed in 2017. A certain percentage of these listings were previously listed properties that failed to sell as a result of being overpriced, which were then relisted at a lower price in order to bring them closer to market value. Home buyers had 1,834 homes to select from at the end of the month which calculates out to be approximately 5.5 months of inventory.
Residential sales activity in communities around Saskatoon was down from April 2017. 78 homes were purchased in April this year, down from the 83 being purchased in April 2017. The average selling price in April was up 2% at $318,729. To the end of April 986 properties have been listed in these areas around Saskatoon, this number down 4% from the 1027 property listings in 2017. At the end of April 2018 there were 1,041 active listings in these areas around Saskatoon, 6% higher than April 2017. Year to date the total number of unit sales was up 11% from the 257 units in 2017 to 285 units in 2018. The average sale price of $307,983 was a 4% decrease when compared to the same 4 month period last year.
April witnessed a 7% increase in the number of home sales compared to April of 2017. The year to date unit sales are down 5% compared to the first four months of 2017. So far this year there have been 981 units sold within Saskatoon. The number of active listings increased by 164 units from last month’s 1,670 to 1,834, at the current rate of sales we have a five and a half month inventory. Now that spring has arrived we are seeing more active buyers looking at homes and making offers on some of the really great homes available for sale in Saskatoon. If you have been thinking about making a move up in the market let me show you the financial advantages of doing so, now is a really good time to buy up. Give me a call and let’s talk about how today’s market conditions favor you as a move up buyer.