Here’s what’s new in Saskatoon’s real estate world.
211 homes were purchased in February that number virtually the same as in February 2018 when 210 homes were purchased. The average selling price was $338,268. that number 2% higher than February 2018 when the average was $330,549. The average price year to date is $320,864, 5% lower than in 2018 when the average was $337,497. The average number of days to sell a property in February was 56 days, which is 2 days fewer than the 58 days in February of 2018. Unit sales year to date are unchanged from 2018 while the number of units listed is down 9%. REALTORS® listed 478 residential properties in February that number 9% lower than the 523 listings in February last year. Year to date listing numbers are 1,033 listings, 9% lower than the 1,139 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 1,467 homes to select from at the end of the month which calculates out to be approximately 7 months of inventory. The sales to listing ratio for February was 44%, solidly in the home buyers favor. At the end of February there were 859 single family homes, 244 townhouses and 327 condominiums available for sale in Saskatoon.
Residential sales activity in communities around Saskatoon was up from February 2018. 66 homes were purchased in February this year, up from the 56 being purchased in February 2018. The average selling price in February was 25% lower that it was in 2018 at $237,962. To the end of February 402 properties have been listed in these areas around Saskatoon, this number even with the 403 property listings in 2018. At the end of February 2019 there were 918 active listings in these areas around Saskatoon, 8% higher than February 2018. Year to date the total number of unit sales was 4% lower at 121 units in 2018 and 126 units in 2019. The average sale price of $287,111 was approximately 3% lower when compared to the same two month period last year – $295,811.
February witnessed an increase of 1 home sale compared to February of 2018 in Saskatoon. The year to date unit sales are down 2 sales 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.