Here’s what’s new in Saskatoon’s real estate world.
185 homes were purchased in January that number 6.3% higher than January 2016 when 174 homes were purchased. The average selling price was $341,806.00 that number 3.8% lower than January 2016 when the average was $355,154.00. The average number of days to sell a property in January was 54 days, a slightly longer selling time for this season. Unit sales year to date are 6.3% higher than 2016 while the number of units listed is up 6%. REALTORS® listed 724 residential properties in January that number 6% higher than the 683 listings in January last year. Home buyers had 1,592 homes to select from at the end of the month which calculates out to be approximately 8 months of inventory.
Residential sales activity in communities around Saskatoon was up from January 2016. 45 homes were purchased in January this year, up from the 39 being purchased in January 2016. The average selling price in January was up .4% at $336,229. To the end of January 221 properties have been listed in these areas around Saskatoon, this number indicates a .5% decrease from the 222 property listings in 2016. At the end of January 2017 there were 221 active listings in these areas around Saskatoon, .5% lower than January 2016. Year to date the total number of unit sales was up 15.4% from the 39 units in 2016 to 45 units in 2017. The average sale price of $336,229 was a .4% increase when compared to the same 1 month period last year.
A couple of interesting notes: although only slight, there was in increase in the number of sales in January this year compared to last year. January is typically a quieter month, so an increase is encouraging, particularly in the wake of the tougher mortgage qualification measures introduced in October. For those who are comparing prices, January’s average sale price at $341,800 is a four percent decrease from one year ago. And lastly, in January this year it took on average of 54 days for a home to sell which is 3 days longer than the 5 year average of 51 days.
Providing valuable information and helpful services to valued clients is important to me. So, if there’s anything else I can do to help with your real estate investment – including offering additional advise, information or recommendations, please give me a call. As your Realtor, my job is to help you with all your needs – before, during and after the sale. The best number to reach me at is 306-280-0989.