JUST THE FACTS
Here’s what’s new in Saskatoon’s real estate world.
324 homes were purchased in September that number 9.2% lower than September 2015 when 357 homes were purchased. The average selling price was $353,704.00 that number 5.7% higher than September 2015 when the average was $334,690.00. The average price year to date is $351,835.00. .5% lower than in 2015 when the average was $353,570.00. The average number of days to sell a property in September was 51 days, a slightly longer selling time for this season. Unit sales year to date are 7.3% lower than 2015 while the number of units listed is down 6.1%. REALTORS® listed 782 residential properties in September that number down from the 974 listings in September last year. Year to date listing numbers are 7,476 listings, 6.1% lower than the 7,959 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 1,841 homes to select from at the end of the month which calculates out to be approximately 5.7 months of inventory.
Residential sales activity in communities around Saskatoon was down from September 2015. 100 homes were purchased in September this year, down from the 103 being purchased in September 2015. The average selling price in September was up 10.5% at $332,594. To the end of September 2,677 properties have been listed in these areas around Saskatoon, this number indicates a 7.6% decrease from the 2,898 property listings in 2015. At the end of September 2016 there were 1,028 active listings in these areas around Saskatoon, 11% lower than September 2015. Year to date the total number of unit sales was down 9.9% from the 907 units in 2015 to 817 units in 2016. The average sale price of $312,877 was a .1% decline when compared to the same 8 month period last year.
At the end of September, there were 1,841 active listings in Saskatoon, the 5 year average is 1,625 units. The highest number of active listings was in June of 2015 at 2,081. The number of homes that sold in September was 324, which is nine percent lower than in September of 2015. Year to date the total unit sales is down 7% at 2,936 compared to the 3,167 in 2015. The average number of days it takes for a home to sell in Saskatoon is 51 days, the five year average is 41 days.