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    • Here’s what’s new in Saskatoon’s real estate world, to November 30th, 2019

    Here’s what’s new in Saskatoon’s real estate world, to November 30th, 2019

    JUST THE FACTS

    Rynsburger Acreage MLS SK771372

    243 homes were purchased in November that number 40 more than November 2018 when 203 homes were purchased. The average selling price was $333,295. that number 3% lower than November 2018 when the average was $343,361.  The average price year to date is $331,457 even with 2018 when the average was $332,717. The average number of days to sell a property in November was 57 days, which is 3 days fewer than the 60 days in November of 2018. Unit sales year to date are 7% higher than 2018 while the number of units listed is down 3%. REALTORS® listed 451 residential properties in November that number 16% lower than the 534 listings in November last year. Year to date listing numbers are 7,443 listings, 3% lower than the 7,646 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 1,495  homes to select from at the end of the month which calculates out to be approximately 6 months of inventory. The sales to listing ratio for November was 54%, which is considered to be a balanced market. Residential sales activity in communities around Saskatoon was down from November 2018. 58 homes were purchased in November this year, down from the 64 being purchased in November 2018. The average selling price in November was 4% higher that it was in 2018 at $314,650. To the end of November 2,789 properties have been listed in these areas around Saskatoon, this number down 3% compared to the 2,874 property listings in 2018. At the end of November 2019 there were 947 active listings in these areas around Saskatoon, 8% lower than November 2018. Year to date the total number of unit sales was 5% lower at 900 units in 2019 and 943 units in 2018. The average sale price of $295,141 was approximately 4% lower when compared to the same eleven month period last year – $307,352.

    November witnessed a 20% increase in the number of home sales compared to November of 2018 in Saskatoon. The year to date unit sales are up 7% compared to last year. The number of new listings in Saskatoon was down 16% for the month and we have had 3% fewer homes listed for sale this year compared to the first 11 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.

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