Good afternoon friends today I want to bring you a brief update on the real estate market during the month of JUNE 2020. We as an Association of Saskatoon Realtors listed 830 properties onto the market, approximately 6% MORE than the 784 listings last JUNE.
We also sold 515 properties which was 38% higher than the 372 sold last JUNE. Year-to-date sales in Saskatoon fell 3.6% over last year, decreasing from 1,842 to 1,776. During the month of JUNE the Average selling price for a single-family residence was $367,700, down from the $373,114 last JUNE. The average sold price for a townhouse was $274,984 compared to $250,936 in JUNE of 2019. The average sale price for an apartment-style condo was $208,021, lower than the $225,157 average in JUNE 2019. The overall average selling price in the month of JUNE was $335,213: .9% lower than the $3338,142 average price last JUNE.
At present, there are 1528 homes available for sale in Saskatoon. Of those 1526 homes, 937 are single-family homes and 588 condominiums. It took an average of 43 days for a home to sell in JUNE, 6 days fewer than JUNE last year.
What we are seeing in the Saskatoon real estate market is consumers actively embracing the opportunity to get back into the market. The provincial governments loosening of social distancing regulations has increased people’s confidence to the point where we are witnessing competing offers on new listings. Employment numbers are also increasing, which means people are returning to work and they now have the money needed to buy homes and help support a broader recovery. If you are curious about the value of your home in today’s real estate market give me a call I would be pleased to provide you with a current market appraisal.