Here’s what’s new in Saskatoon’s real estate world.
203 homes were purchased in November that number 22% lower than in November 2017 when 259 homes were purchased. The average selling price was $343,361. that number 1% higher than November 2017 when the average was $340,398. The average price year to date is $332,717. 4% lower than in 2017 when the average was $345,191. The average number of days to sell a property in November was 60 days, which is 2 days more than the 58 days in November of 2017. Unit sales year to date are 4% lower than 2017 while the number of units listed is down 12%. REALTORS® listed 534 residential properties in November that number 9% lower than the 584 listings in November last year. Year to date listing numbers are 7,646 listings, 12% lower than the 8,649 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 1,716 homes to select from at the end of the month which calculates out to be approximately 8 months of inventory. The sales to listing ratio for November was 38%, solidly in the home buyers favor. Residential sales activity in communities around Saskatoon was down from November 2017. 64 homes were purchased in November this year, down from the 71 being purchased in November 2017. The average selling price in November was on par with 2017 at $301,490. To the end of November 2,874 properties have been listed in these areas around Saskatoon, this number down 5% from the 3,029 property listings in 2017. At the end of November 2018 there were 1,030 active listings in these areas around Saskatoon, 11% higher than November 2017. Year to date the total number of unit sales was exactly the same at 943 units in 2017 and 943 units in 2018. The average sale price of $307,352 was approximately the same when compared to the same 11 month period last year.
November witnessed a decrease of 56 home sales compared to November of 2017. The year to date unit sales are down 4% compared to the first 11 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.