Good afternoon friends today I want to bring you a brief update of the real estate market during the month of March 2020. We as an Association of Saskatoon Realtors listed 602 properties onto the market, approximately 14% fewer than the 703 listings last March.
We also sold 274 properties which was 6% higher than the 257 sold last March. The average selling price in the month of March was $347,189: almost 10% higher than the $316,737 average price last March.
At present there are 1452 homes available for sale in Saskatoon which is 10% fewer than a year ago. Of those 1452 homes, 927 are single family homes and 526 are condominiums. It took an average of 57 days for a home to sell in March, 1 day fewer than March last year.
The Saskatoon real estate market has been difficult to read this month. We started March with lots of interest and an increased number of listings and sales and then about mid month everything started to collapse. We ended March with more homes sold this year than last, by 16, and our average sale price was up to $347,189 approximately 9.6% higher than last March. It feels like an eternity has passed, largely because everything has changed and it continues to change even more every day.
I wish I could tell you what’s going to happen in April, but I think the best I can do is to suggest we all take a deep breath, try to relax and be patient because I don’t see the end in sight. Having said that I do believe we will get through this and I’m not giving up hope. If you find yourself in a bind and need some help, please call me and I’ll do my best to be that shoulder you need to lean on.