At present Saskatoon has approximately five months of housing inventory if no new listings were brought onto the market and we continued to have a similar number of sales as we had in July. However we as Realtors will continue to bring new homes onto the real estate market every month. Some of your neighbors and your friends are going to decide it’s time to upgrade or possibly downsize their current housing situation which will bring additional choices to those people who are looking to buy a new home. The statistics above tell me there are almost 1200 single family homes available for sale and that the average sale price is slightly lower than it was in July of last year. We recorded 259 single family home sale in July and what I can tell you is that there will be fewer of these types of homes sell in August. If you currently have your home listed for sale you need to closely assess what comparable homes have been selling for and quite likely make a price adjustment in order to get your home sold this fall.
The same advice applies to townhouses and condominiums. The number of condo units that sold in July was 131 and we have an inventory of 687, this sector of the market is flooded with product and we are continuing to see brand new condominiums coming into the market. The rules of supply and demand is driving down the sale price of used condominiums, the new product is very price conscious and the new features are very appealing to young consumers.
If you are curious about the value of your home I would be pleased to provide you with a current market appraisal, call me at 306-280-0989 and we can schedule a time for me to view your home. And if you are in the market to purchase a home I can help you identify your best choices based upon your wants and needs and then help you through the exciting process of purchasing your dream home. In the mean time, please follow this link to view a big beautiful bungalow I currently have listed for sale. I look forward to talking with you soon, I hope you have a wonderful day.