Here’s what’s new in Saskatoon’s real estate world, July 2019

    Here’s what’s new in Saskatoon’s real estate world, July 2019

    390 homes were purchased in July that number exactly the same as July 2018 when 390 homes were purchased. The average selling price was $331,780. that number 1.7% lower than July 2018 when the average was $337,667.  The average price year to date is $331,649 1% lower than in 2018 when the average was $334,673. The average number of days to sell a property in July was 52 days, which is 6 days more than the 46 days in July of 2018. Unit sales year to date are 7% higher than 2018 while the number of units listed is down 3%. REALTORS® listed 748 residential properties in July that number 5.5% higher than the 709 listings in July last year. Year to date listing numbers are 4,952 listings, 3% lower than the 5,116 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 1,932 homes to select from at the end of the month which calculates out to be approximately 5 months of inventory.

    Residential sales activity in communities around Saskatoon was down from July 2018. 69 homes were purchased in July this year, down from the 114 being purchased in July 2018. The average selling price in July was 7.5% higher that it was in 2018 at $311,998. To the end of July 1,959 properties have been listed in these areas around Saskatoon, this number down 1% compared to the 1,975 property listings in 2018. At the end of July 2018 there were 1,213 active listings in these areas around Saskatoon, .7% lower than July 2018. Year to date the total number of unit sales was 3% lower at 586 units in 2019 and 605 units in 2018. The average sale price of $294,389 was approximately 5% lower when compared to the same six month period last year – $310,623.

    July witnessed the same number of home sales compared to July of 2018 in Saskatoon. The year to date unit sales are up 7% 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.

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