by Kim Stevenson
on Thursday, February 28th, 2019 at 5:17pm.
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 February. Saskatoon remains a buyers’ market, with a sales-to-listing ratio of 44; but the ratio has risen from 34 in January, for a year-to-date ratio of 40. A ratio of 50 is a balanced market, while a ratio of 60 denotes a sellers’ mark.