JUST THE FACTS
Here’s what’s new in Saskatoon’s real estate world.
373 homes were purchased in August that number 13.4% higher than August 2015 when 329 homes were purchased. The average selling price was $353,012.00 that number .3% lower than August 2015 when the average was $353,971.00. The average price year to date is $351,687.00. 1.2% lower than in 2015 when the average was $356,041.00. The average number of days to sell a property in August was 50 days, a slightly longer selling time for this season. Unit sales year to date are 7% lower than 2015 while the number of units listed is down 4.2%. REALTORS® listed 831 residential properties in August that number down from the 843 listings in August last year. Year to date listing numbers are 6,694 listings, 4.2% lower than the 6,985 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 homes to select from at the end of the month which calculates out to be approximately 5.25 months of inventory.
Residential sales activity in communities around Saskatoon was up from August 2015. 105 homes were purchased in August this year, up from the 94 being purchased in August 2015. The average selling price in August was up 9.7% at $351,570. To the end of August 2,402 properties have been listed in these areas around Saskatoon, this number indicates an 8.3% decrease from the 2,620 property listings in 2015. At the end of August 2016 there were 1,081 active listings in these areas around Saskatoon, 10.7% lower than August 2015. Year to date the total number of unit sales was down 10.8% from the 804 units in 2015 to 717 units in 2016. The average sale price of $310,127 was a 1.5% decline when compared to the same 8 month period last year.