JUST THE FACTS
Here’s what’s new in Saskatoon’s real estate world.
306 homes were purchased in October that number 21 more than October 2018 when 285 homes were purchased. The average selling price was $318,450. that number 2% lower than October 2018 when the average was $325,016. The average price year to date is $331,349, even with 2018 when the average was $332,012. The average number of days to sell a property in October was 54 days, which is 3 days fewer than the 57 days in October of 2018. Unit sales year to date are 7% higher (3,160) than 2018 (2,962) while the number of units listed is down 2%. REALTORS® listed 599 residential properties in October that number 1% higher than the 591 listings in October last year. Year to date listing numbers are 6,992 listings, 2% lower than the 7,111 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 1,712 homes to select from at the end of the month which calculates out to be approximately 5.6 months of inventory. The sales to listing ratio for October was 51%, which is considered to be a balanced market. Residential sales activity in communities around Saskatoon was up from October 2018. 88 homes were purchased in October this year, up from the 82 being purchased in October 2018. The average selling price in October was 19% lower that it was in 2018 at $281,534. To the end of October 2,629 properties have been listed in these areas around Saskatoon, this number down 2% compared to the 2,676 property listings in 2018. At the end of October 2019 there were 1,020 active listings in these areas around Saskatoon, 7% lower than October 2018. Year to date the total number of unit sales was 4% lower at 843 units in 2019 and 879 units in 2018. The average sale price of $293,762 was approximately 5% lower when compared to the same ten month period last year – $307,778.
October witnessed a 7% increase in the number of home sales compared to October of 2018 in Saskatoon. The year to date unit sales are up 7% compared to last year. The number of active listings in Saskatoon was down 6% for the month and we have 2% fewer homes for sale this year compared to the first 10 months of 2018. 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.