September 2018 Saskatoon Real Estate Market Update

    JUST THE FACTS

    Here’s what’s new in Saskatoon’s real estate world.

    MLS SK748818     378 Lloyd Crescent

    268 homes were purchased in September that number 3% higher than September 2017 when 260 homes were purchased. The average selling price was $319,275. that number 7% lower than September 2017 when the average was $344,426.  The average price year to date is $332,730. 4% lower than in 2017 when the average was $347,165. The average number of days to sell a property in September was 60 days, which is 5 days more than the 55 days in September of 2017. Unit sales year to date are 2% lower than 2017 while the number of units listed is down 11%. REALTORS® listed 648 residential properties in September that number 16% lower than the 767 listings in September last year. Year to date listing numbers are 6,521 listings, 11% lower than the 7,356 listed in 2017. 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 1,944   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 up from September 2017. 86 homes were purchased in September this year, up from the 75 being purchased in September 2017. The average selling price in September was down 4% at $294,421. To the end of September 2,464 properties have been listed in these areas around Saskatoon, this number down 5% from the 2,597 property listings in 2017. At the end of September 2018 there were 1,161 active listings in these areas around Saskatoon, 7% higher than September 2017. Year to date the total number of unit sales was up 3% from the 775 units in 2017 to 798 units in 2018. The average sale price of $303,637 was a 2% decrease when compared to the same 9 month period last year.

    September witnessed an increase of 8 home sales compared to September of 2017. The year to date unit sales are down 2% compared to the first nine months of 2017. 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.

    I’m Just A Phone Call Away, 306-280-0989.

     

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