JUST THE FACTS
Here’s what’s new in Saskatoon’s real estate world.
229 homes were purchased in February that number 1% higher than February 2016 when 226 homes were purchased. The average selling price was $337,855.00 that number 2% higher than February 2016 when the average was $332,689.00. The average price year to date is $339,367.00. 1% lower than in 2016 when the average was $341,916.00. The average number of days to sell a property in February was 55 days, a slightly longer selling time for this season. Unit sales year to date are 3% higher than 2016 while the number of units listed is down 5%. REALTORS® listed 613 residential properties in February that number 16% lower than the 727 listings in February last year. Year to date listing numbers are 1337 listings, 5% lower than the 1410 listed in 2016. 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 1,659 homes to select from at the end of the month which calculates out to be approximately 7 months of inventory.
Residential sales activity in communities around Saskatoon was down from February 2016. 55 homes were purchased in February this year, down from the 63 being purchased in February 2016. The average selling price in February was up 3% at $308,154. To the end of February 456 properties have been listed in these areas around Saskatoon, this number indicates an 11% decrease from the 513 property listings in 2016. At the end of February 2017 there were 854 active listings in these areas around Saskatoon, 13% lower than February 2016. Year to date the total number of unit sales was down 2% from the 102 units in 2016 to 100 units in 2017. The average sale price of $320,788 was a 2% increase when compared to the same 2 month period last year.
Saskatoon and area with such a large inventory of homes available for sale makes today a great day to buy a home. If you have been renting for a while we should talk about how owning your own home is the right financial decision for you. Please call me at 306-280-0989. The video summary for this months statistics is here: https://youtu.be/SxV8jLS1eNQ