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Just The Facts June 2018

350 homes were purchased in June that number 11% lower than June 2017 when 392 homes were purchased. The average selling price was $331,420. that number 5% lower than June 2017 when the average was $350,168.  The average price year to date is $333,985. 5% lower than in 2017 when the average was $349,838. The average number of days to sell a property in June was 47 days. Unit sales year to date are 8% lower than 2017 while the number of units listed is down 12%. REALTORS® listed 872 residential properties in June that number  8% lower than the 949 listings in June last year. Year to date listing numbers are 4,408 listings, 12% lower than the 5,004 listed in 2017. 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 2,109 homes to select from at the end of the month which calculates out to be approximately 6 months of inventory. The sales to listing ratio for June was 40%, , virtually unchanged from last year.

Because I’m often asked how much should I offer when an individual is ready to make an offer on a home let me try to provide some perspective. Of the 350 homes that sold in Saskatoon during the month of June the average asking price of those homes was $341,721. The actual average sale price of those same homes was $331,420, the price difference calculates out to be $10,301. Keep in mind these are average numbers, but they may provide you some perspective of buyer and seller negotiating room.

Residential sales activity in communities around Saskatoon was down from June 2017. 103 homes were purchased in June this year, down from the 104 being purchased in June 2017. The average selling price in June was a fraction higher at $304,449. To the end of June 1,677 properties have been listed in these areas around Saskatoon, this number down 5% from the 1,768 property listings in 2017. At the end of June 2018 there were 1,193 active listings in these areas around Saskatoon, 7% higher than June 2017. Year to date the total number of unit sales was up 3% from the 476 units in 2017 to 491 units in 2018. The average sale price of $318,336 was a 2% decrease when compared to the same 6 month period last year.

June witnessed an 11% decrease in the number of home sales compared to June of 2017. The year to date unit sales are down 8% compared to the first six months of 2017. It is important to remember that these changes in pricing are an aggregate of the entire market and will vary based on area, type of home and availability of similar properties to the subject home.  If you are curious what your home would be worth in today’s market we should talk. Call me at 306-280-0989 and I’ll provide you with an up to date market analysis you can take to the bank.

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