Here’s what’s new in Saskatoon’s real estate world.
375 homes were purchased in June that number 6% higher than in June 2018 when 351 homes were purchased. The average selling price was $338,499. that number 2% higher than June 2018 when the average was $331,420. The average price year to date is $338,499 1% higher than in 2018 when the average was $333,982. The average number of days to sell a property in June was 49 days, which is 2 days more than the 47 days in June of 2018. Unit sales year to date are 9% higher than 2018 while the number of units listed is down 5%. REALTORS® listed 784 residential properties in June that number 10% lower than the 871 listings in June last year. Year to date listing numbers are 4,206 listings, 5% lower than the 4,407 listed in 2018. 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 1,903 homes to select from at the end of the month which calculates out to be approximately 5 months of inventory. The sales to listing ratio for June was 47%, which is considered to be very close to a balanced market.
Residential sales activity in communities around Saskatoon was down from June 2018. 96 homes were purchased in June this year, down from the 103 being purchased in June 2018. The average selling price in June was 6% higher that it was in 2018 at $304,449. To the end of June 1,668 properties have been listed in these areas around Saskatoon, this number even with the 1,674 property listings in 2018. At the end of June 2018 there were 1157 active listings in these areas around Saskatoon, 3% lower than June 2018. Year to date the total number of unit sales was 5% higher at 517 units in 2019 and 491 units in 2018. The average sale price of $292,039 was approximately 7% lower when compared to the same six month period last year – $315,336. June witnessed an increase of 22 home sales compared to June of 2018 in Saskatoon. The year to date unit sales are up 9% compared to last year. 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. Call me at 306-280-0989 and I’ll provide you with an up to date market analysis you can take to the bank.