JUST THE FACTS
Here’s what’s new in Saskatoon’s real estate world.
493 homes were purchased in May that number 16% higher than May 2013 when 425 homes were purchased. The average selling price was $356,843.00 that number pretty much even with May 2013 when the average was $355,106.00. The average price year to date is $353,684.00 up 3% from 2013 at this same time when the average was $344,179.00. The average number of days to sell a property in May was 36 days indicating a seasonal increase of sales. Unit sales year to date are 10% higher than 2013 while the number of units listed is up by 15%. City wide, Saskatoon is considered to be in a balanced market position overall with the sales to listing ratio at 52%. REALTORS® listed 945 residential properties in May that number up from the 897 listings in May last year. Year to date listing numbers are 3,809 listings, 15% higher than the 3,312 listed in 2013. 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 1,563 homes to select from at the end of the month which calculates out to be approximately 3.2 months of inventory. Residential sales activity in communities around Saskatoon was up 36% from May 2013. 158 homes were purchased in May as compared to 116 being purchased in May 2013. The average selling price was down 2% at $298,380.00 . Year to date 1423 properties have been listed in these areas around Saskatoon, this number indicates a 12% increase from the 1272 property listings in 2013. At the end of May 2014 there were 1013 active listings in these areas around Saskatoon, approximately 2% higher than May 2013. Interpreting these numbers so they make sense when you are making a decision to sell or purchase is one of the many reasons why people choose to call me for professional experienced real estate advise. If you would like to review your personal real estate market value or purchase opportunities please call me, no obligations and no commitment required.
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