JUST THE FACTS
This link will take you to a 1340 square foot 3 bedroom, 3 bathroom Belmont Townhouse condominium in Stonebridge priced at $319,900 mls in show home condition http://tour.circlepix.com/home/ETVU6P If you have any questions about this home please call me at 306-280-0989.
Here’s what’s new in Saskatoon’s real estate world.
174 homes were purchased in January that number 2.2% lower than January 2015 when 178 homes were purchased. The average selling price was $354,105.00 that number 1.2% lower than January 2015 when the average was $358,332.00. The average number of days to sell a property in January was 50 days a typical selling time for this season. Unit sales year to date are 2.2% lower than 2015 while the number of units listed is also down by 5.5%. REALTORS® listed 683 residential properties in January that number down from the 723 listings in January last year. 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 1,612 homes to select from at the end of the month which calculates out to be approximately 9 months of inventory.
Residential sales activity in communities around Saskatoon was down from January 2015. 39 homes were purchased in January this year , down from the 57 being purchased in January 2015. The average selling price was up 3% at $334,971. Year to date 222 properties have been listed in these areas around Saskatoon, this number indicates a 12.6% decline from the 254 property listings in 2015. At the end of January 2015 there were 870 active listings in these areas around Saskatoon, 6.5% higher than January 2015.
A decline in new building permits coupled with home sellers deciding to wait until spring to go to market, has helped relax inventory levels. Condominiums in Saskatoon accounted for roughly 40% of the active properties with 634 units currently on the market. Of these active condos, it is estimated that about 20% are new units. By comparison, less than a third of the single family homes available on the market are new construction. With our sales to listing ratio sitting at 25.5% it is more important than ever to understand what the market price of your home is if you are serious about selling. It’s up to you to choose if you want to be the one of the four homes that sell or if you choose to over price and be one of the other 3 that does not sell.