Here’s what’s new in Saskatoon’s real estate world.
164 homes were purchased in December that number 20% lower than in December 2017 when 205 homes were purchased. The average selling price was $339,132. that number even with December 2017 when the average was $339,520. The average price year to date is $333,055. 3% lower than in 2017 when the average was $344,858. The average number of days to sell a property in December was 55 days, which is 3 days more than the 52 days in December of 2017. Unit sales year to date are 5% lower than 2017 while the number of units listed is down 11%. REALTORS® listed 311 residential properties in December that number 3% lower than the 320 listings in December last year. Year to date listing numbers are 7,956 listings, 11% lower than the 8,969 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 1,487 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 December 2017. 43 homes were purchased in December this year, down from the 44 being purchased in December 2017. The average selling price in December was 10% higher that it was in 2017 at $316,814. To the end of December 2,976 properties have been listed in these areas around Saskatoon, this number down 6% from the 3,156 property listings in 2017. At the end of December 2018 there were 947 active listings in these areas around Saskatoon, 16% higher than December 2017. Year to date the total number of unit sales was virtually the same at 987 units in 2017 and 986 units in 2018. The average sale price of $307,764 was approximately the same when compared to the same 12 month period last year.
December witnessed a decrease of 41 home sales compared to December of 2017 in Saskatoon. The year to date unit sales are down 5% compared to last year. 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.