Here’s what’s new in Saskatoon’s real estate world.
258 homes were purchased in March that number 11% higher than in March 2018 when 233 homes were purchased. The average selling price was $316,445. that number 4% lower than March 2018 when the average was $328,208. The average price year to date is $319,158 4% lower than in 2018 when the average was $334,141. The average number of days to sell a property in March was 57 days, which is 7 days less than the 64 days in March of 2018. Unit sales year to date are 4% higher than 2018 while the number of units listed is down 4%. REALTORS® listed 702 residential properties in March that number 5% higher than the 668 listings in March last year. Year to date listing numbers are 1,736 listings, 4% lower than the 1,807 listed in 2018. 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 1,611 homes to select from at the end of the month which calculates out to be approximately 6.25 months of inventory. The sales to listing ratio for March at 37% was solidly in the home buyers favor. Residential sales activity in communities around Saskatoon was down from March 2018. 77 homes were purchased in March this year, down from the 85 being purchased in March 2018. The average selling price in March was 12% lower that it was in 2018 at $275,036. To the end of March 666 properties have been listed in these areas around Saskatoon, this number even with the 669 property listings in 2018. At the end of March 2019 there were 964 active listings in these areas around Saskatoon, 4% higher than March 2018. Year to date the total number of unit sales was virtually the same at 206 units in 2018 and 203 units in 2019. The average sale price of $282,531 was approximately 7% lower when compared to the same three month period last year – $302,618.
March witnessed an increase of of 25 home sales compared to March of 2018 in Saskatoon. The year to date unit sales are up 4% 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.
- March sales priced from $1 to $200,000 were 50 homes sold
- March sales priced from $200,001 to $300,000 were 68 homes sold
- March sales priced from $300,001 to $400,000 were 90 homes sold
- March sales priced from $400,001 to $500,000 were 30 homes sold
- March sales priced above $500,000 were 21 homes sold