JUST THE FACTS
Here’s what’s new in Saskatoon’s real estate world.
444 homes were purchased in July that number 6% higher than July 2014 when 419 homes were purchased. The average selling price was $361,128.00 that number 1% lower than in July 2014 when the average was $364,484.00. The average price year to date is $351,787.00 on par with 2014 when the average was $357,920.00. The average number of days to sell a property in July was 52 days indicating a slower market, despite an increase in the number of sales. Unit sales year to date are 11% lower than 2014 while the number of units listed is up by 9%. REALTORS® listed 916 residential properties in July that number down from the 932 listings in July last year. Year to date listing numbers are 6,143 listings, 9% higher than the 5,646 listed in 2014. 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 2,028 homes to select from at the end of the month which calculates out to be approximately 4.5 months of inventory.
Residential sales activity in communities around Saskatoon was 18% lower than in July 2014. 107 homes were purchased in July as compared to 130 being purchased in July 2014. The average selling price was down 1% at $316,909. Year to date 2,315 properties have been listed in these areas around Saskatoon, this number indicates a 9% increase from the 2,127 property listings in 2014. At the end of July 2015 there were 1,205 active listings in these areas around Saskatoon, 14% higher than July 2014.