The Saskatoon Home Team

Where Integrity Meets Hard Work

The gloomy weather in the Saskatoon area hasn’t slowed down the sales numbers in the local real estate market. Last week there were an impressive 126 sales recorded to the Saskatoon MLS with an average price of $381,488, while the average home sold in only 31 days. We’re starting to see the luxury market (over $400,000) finally increase in sales volume and homes are selling much quicker than they have been in months. In 2013 during the same week period there were 125 sales with an average price $360,928 ($20,560 lower than last week), while the average home sold in 37 days.

 

We have seen the largest difference in sales volume when comparing the past month to the same month period in 2013.

 

Year                       Sales/Week        Average Price                    DOM                     Avg Selling $ Under Asking

 

2014                       120                         $367,180                              34                           $8,963

 

2013                       89                           $349,662                              35                           $6,646

 

Year over year we’ve seen sales volume up over 30 sales per week while the average price of a home has gone up $17,518. Homes are starting to sell considerably lower under their asking price, however they are starting to sell slightly faster in 1 less day on market.

 

There are currently 1591 active listings in Saskatoon (953 single family, 513 condominiums), which is up from just 1305 last year during the same week period. There is much more competition on the market in 2013 especially in the new home market. Last week there were 188 listings posted to the market which is a considerable drop off from what we’ve seen of late.

 

For more information on the market, or if you’re thinking about buying/selling, contact us here!

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Sales have continued to roll at a very high pace in the Saskatoon real estate market of late. Coming off the heels of a week where we saw a record 125 listings sold, last week there were a very respectable 113 firm sales reported to the MLS. Of those sales last week, the average price was $359,204, while the average home sold in 34 days on market.
It should be noted that 17% of the total sales were new homes, while new homes make up 30% of the total inventory. A new home sells in an average of 63 days, while a resale home sells in 28 days on the current market. Pricing is extremely critical in the new home market as it has become competitive.

 

Over the past month the Saskatoon real estate market has been averaging 115 sales per week. The numbers in 2014 are more than any year during the same month period since the real estate boom in 2007 when we averaged 119 per week. Over the past month the average price is very similar to last week’s average at $359,807, 35 days on market, while the average selling price is $8,490 under asking price. In 2013 during the same month period the Saskatoon real estate market averaged 15 less sales per week, the average sale price was $13,592 less, while the average house sold in only 31 days on market.

 

A major difference between 2014 and 2013 has been the amount of listing inventory on the market. At the moment there is currently 1609 active listings in Saskatoon (983 single family, 496 condominiums). In 2013 there were more than 200 less listings during the same week period.

 

Ultimately sales volume, average prices and inventory are better than in 2013. The Saskatoon real estate market has made solid incremental gains since 2008 and continues to show a lot of promise. Now is a great time to buy as rates are extremely attractive and inventory levels are very good. If you have any questions about the Saskatoon market trends or if you’re thinking about buying/selling let us know here!

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Momentum continues to roll in the Saskatoon real estate market as the local MLS recorded 124 sales, which is a 2014 record. Sales haven’t been this brisk in Saskatoon for 7 years since the one-off real estate boom, The current market has been bolstered by the city’s continuous growth and ability to retain its young people. Last week the average price was $358,209 and the average home sold in 35 days on market. In 2013 there were 108 sales at an average price of $329,789 while the average home sold in 33 days on market.

 

Over the past month in Saskatoon there has been an average of 117 sales per week at an average price of $358,569. The average house sold in 34 days and the average selling price was $8,679 under asking price. These numbers look excellent when comparing sales data from a very productive 2013. Last year in Saskatoon there were 18 less sales per week at an average price of $352,028 while homes sold in 31 days on market. There are slight differences in average selling price and days on market from year to year, however numbers are trending in the right direction.

 

Last week there were 240 new listings (165 single family, 59 condominiums) posted to the local MLS.  The impressive listing numbers from last week increased the total active listings in Saskatoon to 1598 (973 single family, 474 condominums).

 

It should be noted that 28% of all listings in Saskatoon are new homes, while only 14% of all sales are new homes. The resale market comprises 72% of all listings and 86% of all sales. Now is a perfect time for move up buyers looking to get into a new home!

 

For more information on the Saskatoon real estate market, market trends, or if you’re buying or selling contact us here.

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The Saskatoon real estate market has been more active in May 2014 than it has been in the past 7 years during the same month period. Last week there were an impressive 119 sales in Saskatoon with an average price of $367,949. In 2013 during the same week period there were 25 less sales.

 

Here’s a break down of how the numbers compare over the past 5 years in May within the Saskatoon real estate market in terms of sales volume, price and days on market (DOM).

 

Month / Year    Number of Sales           Avg. Price               DOM

 

May 2014                    495                        $356,081                  36

 

May 2013                    426                        $355,376                  30

 

May 2012                    459                        $335,774                  27

 

May 2011                    417                        $317,336                  34

 

May 2010                    351                        $295,167                  27

Since 2010 the average price of a home has jumped up $60,914 in Saskatoon. It seems that incrementally every year we’ve seen positive gains in the average prices of homes in the Saskatoon area. Prices have gone up modestly from 2013 to 2014, however the numbers are somewhat skewed due to high activity in the lower end of the market. Values of homes in 2014 haven’t taken a hit in the resale market, rather the new home market is taking a brunt of it. Due to the high amount of inventory and competition, in 2014 homes are sitting on the market longer than usual.

 

We haven’t seen sales volume as high in Saskatoon during the month of May since 2007, when 581 sales occurred. The growth witnessed during the boom of 2007 wasn’t sustainable. However the steady incremental growth in average prices and sales volume since then is quite promising. Consumer confidence is very high at the moment in the Saskatoon real estate market, especially resale under the $400,000 range.

 

There are currently 1554 active listings (950 single family, 495 condominiums) on the market in Saskatoon. This number as mentioned above is higher than usual as there were just over 1200 listed during the same time period last year.

 

At the moment 30% of all properties on the market are new homes, while only 15% of the total sales are new. Listings continue to pop up on the market daily at a steady pace as current buying conditions are better than they have ever been. Last week there were 187 new listings posted and we can expect this number to increase to over 200 during the weeks to come.

 

For more information on Saskatoon real estate market trends, or if you’re buying/selling, contact us here!


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