Here’s what’s new in the Saskatoon Real Estate Market

    JUST THE FACTS

    Here’s what’s new in Saskatoon’s real estate world.

    377 homes were purchased in April that number 4.6% lower than April 2015 when 395 homes were purchased. The average selling price was $344,599.00 that number 1.7% lower than April 2015 when the average was $350,451.00.  The average price year to date is $344,249.00. 2% lower than in 2015 when the average was $351,384.00. The average number of days to sell a property in April was 46 days a typical selling time for this season. Unit sales year to date are 5.9% lower than 2015 while the number of units listed is down by 1.3%. REALTORS® listed 939 residential properties in April that number down from the 953 listings in April last year. Year to date listing numbers are 3,174 listings, 1.3% lower than the 3,216 listed in 2015. 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 1,965 homes to select from at the end of the month which calculates out to be approximately 5.2 months of inventory.

    Residential sales activity in communities around Saskatoon was down from April 2015. 99 homes were purchased in April this year, down from the 119 being purchased in April 2015. The average selling price in April was up 9% at $320,533. Year to date 1,164 properties have been listed in these areas around Saskatoon, this number indicates an .6% increase from the 1,157 property listings in 2015. At the end of April 2016 there were 1,152 active listings in these areas around Saskatoon, 8.4% higher than April 2015. Year to date the total number of unit sales was down 13.4% from the 335 units in 2015 to 290 units in 2016. The average sale price of $312,251 was a 1.6% decline when compared to the same four month period last year.

    To the end of April we are off about 2% in terms of the average price compared to last year, sitting at $344,249. We are also off in terms of the number of homes that have sold this year compared to last year by about 6%, we’ve seem 1091 homes exchange hands this year. One final point, we have 1,965 homes for sale, about 1.6% more than a year ago. I expect this spring market to absorb some of this inventory, however we may see the new home industry ramp up their production and bring large numbers of new homes into the marketplace. If you are curious how these statistics affect you and your home please call me and we can talk about your homes current value.

    This new listing represents an affordable newer townhouse in the Stonebridge neighborhood, please check it out: http://tour.circlepix.com/home/LTVUWP

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    I'm Just A Phone Call Away, 306-280-0989.
    I’m Just A Phone Call Away, 306-280-0989.

     

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