by Kim Stevenson
on Friday, November 30th, 2018 at 9:06am.
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.
The value for the typical single-family home reached its peak in May of 2015 at $329,500.
Currently this value is at $310,900. Even though this is up 0.8% from a year ago, it has been trending downward in the past 6 months.