Real Estate Blog

 

 

April 2019 Saskatoon Real Estate Market Update

April housing demand in the Saskatoon region was the strongest in three years, as sales jumped 18 per cent over the same month of 2018.

The Saskatoon Region Association of REALTORS® (SRAR) reported 513 sales on the MLS® system, up from 433 last April and 414 in 2017. Those sales generated a dollar volume of $169.6 million, up 12 per cent from last year’s $152 million and 14 percent from $147 million in 2017. Year-to-date, sales are up seven per cent to 1,440, as compared to 1,342 in 2018 and 1,368 in 2017. Dollar volume is up three per cent to $460.2 million from last year’s $447.8 million. The spring market usually brings an increase in listings, and April followed that tradition. Listings

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There were 1084 active listings with 258 homes sold in March/19.

The average home took 52 days to sell and we currently have 6 months worth of inventory.

  • With 694 active listings, the average price was $432,693
  • Average sale price in 2019 = $351,753 Average sale price in 2018 = $366,876
  • The average townhouse price was $300,016.
  • Average sale price in 2019 = 277,089 Average sale price in 2018 = $257,558
  • The average condo price was $258,389
  • Average sale price in 2019 = $183,087 Average sale price in 2018 = $201,560
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New listings dropped 7% and sales rose 6%.

The Saskatoon Region Association of REALTORS® (SRAR) reported 731 homes listed, down from 783 in the same month of last year, while sales rose to 296 from 280.

Year to date, listings dropped 7% to 1,591, sales were up 1% to 570. Excluding the region, new Saskatoon listings were down 8.6% in February to 478 — the fewest since 2013 — while sales held steady with last year, rising by one to 211. Months of inventory dropped to 6.7 from 7.5 last February.

City homes listed to date in 2019, at 1,033, are at their lowest level in nine years. February statistics indicate a change in a market that has been declining for four years. The average price in Saskatoon also rose slightly to $338,268, up 2.3% from last

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Welcome to 1327 Konihowski Road! This updated 5 bedroom, 3 bath home is the perfect size for a growing family. The large entryway and vaulted ceiling give this home a grand feel. The flooring has been updated with newer hardwood throughout the main. The kitchen has a spacious dining area, pantry and doors leading to the deck. Down the hall you will find an updated 4 piece main bath and three bedrooms. The master bedroom has a 3 piece ensuite. The developed basement has a large family room, 2 large bedrooms and a 2 piece bath as well as a laundry room with lots of storage. Other features include underground sprinklers, newer shingles, air conditioning and a triple driveway. The location is great with close proximity to schools as well as walking

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  • Average sale price in January was $302,412 compared to $341,260 in 2017 and $344,720 in 2018.

  • January residential home sales on the Multiple Listing Service (MLS®) in Saskatoon totaled declined by only 1% in January with 199 transactions.

  • Residential MLS® listing totals for January was the lowest in the past six years with 555 new listings introduced to the market, 10% lower than last January. The total number of active listings as at the end of last month was 1,450 compared with 1,529 last year.

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  • December home sales on the Multiple Listing Service (MLS®) in Saskatoon totaled 164 transactions, 20% fewer than December of 2017 - which recorded 205 residential sales.

  • The total annual number of residential home sales for 2018 in Saskatoon totaled 3,329 units. This is a 5% decline compared to the total number of home transactions for 2017. This represents the fourth straight year of a decline in annual home sales in Saskatoon.

  • At the end of December, the average value of a home is at $307,000, down from $310,900 in November. This value is virtually unchanged from a year ago, however, it has been trending downward since the middle of 2018.

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  • The total number of residential home sales for the month of November in Saskatoon on the Multiple Listing Service (MLS®) totaled 203 units. This represents a 22% decline compared to the same month last year. At the end of last month there was a total of 3,167 residential MLS® transactions in the city, this is a 25% decline from the high of 2014.

  • Total active residential listings at the end of last month was 1,716, comparable to the five-year average and slightly higher than the 10-year average of 1,388. It is considered to be a balanced market when the ratio is at 50%, a lower percentage than this is considered a buyers’ market and above, a sellers’ market. The sales to listing ratio in Saskatoon for November was 38%, favoring buyers.

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  • The total number of new residential listings in Saskatoon on the Multiple Listing Service (MLS) year to date totalled 7,111 - 12% decline when compared to the same period last year with 8,065 properties listed.

  • The total number of residential listings for Saskatoon and region year to date is 10,929, a 10% decline from last year.

  • The average residential price was $332,000 at the end of October, down 4% from a year ago and $20,000 from two years ago.

  • The Benchmark price for a typical townhouse style property in Saskatoon was $222,900 last month and for apartment style properties, $180,100 in October. 

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  • Sales are up 3% for the month and -2.0% YTD in Saskatoon with 268 properties selling in Saskatoon in the month of September.

  • 648 New Listings hit the market down from 767 last September.

  • Average Sale price in September was $319,275 down 7% from $344,426 in September 2017.

  • Average Sale price year to date is $332,730, down 4% from 2017.

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At the end of August there were 2,019 active residential listings in the city of Saskatoon, a decline of 8% from a year ago. Of the active listings, approximately 1,227 are single family while just over 780 fall under condominium ownership. The decline in active listings is largely due to a decline in homes listed year over year. To date, a total of 5,875 residential properties have been listed in Saskatoon on the Multiple Listing Service® (MLS®), down 11% compared to the end of August last year. “In a slower market, one typically sees fewer speculative sellers than in a hot market” comments Jason Yochim, CEO with the Saskatoon Region Association of REALTORS® “It’s important to bear in mind that homes sell in all markets. If a seller needs to sell then

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