Saskatoon Real Estate News December 13, 2018

November Market Update

The Saskatoon real estate market for November showed some signs of softening with 203 properties selling in 2018 compared to 259 in 2017 and 242 in 2016. This number is much lower than in 2010 when 287 homes for sale in Saskatoon had sold in the same month. This is a decrease of 17% from 2017 to 2018 however the overall sales for the entire year is only down 2% so don’t let that 17% get you down.

The year to date sales in Saskatoon is the lowest it has been in 10 years yet the economic indicators are pointing in a rebound for the Saskatoon real estate market.

Where we are seeing lower amount of sales we are also seeing a lower amount of listings so this helps keep the Saskatoon real estate market in more of a balanced state. In 2017 we had 850 properties listed for sale at the end of November whereas this year we are seeing 791.

We have a total of 3402 properties for sale in Saskatoon and surrounding area compared to 3458 last year which is only 2% less than last year. There are 1716 houses or condos for sale in Saskatoon compared to 1826 the previous year which is down 6%.

The average price of a house in Saskatoon is currently $332,717 which is down 4% from last year where the average price of a house here was $345,191. The monthly average house price is higher than it was in November of 2017 however this is generally the result of more expensive homes for sale in Saskatoon selling than the lower end product and condos.

It is important to note that even if it seems like a buyer’s market in Saskatoon, many home sellers are still getting close to list price IF (and this is a big IF) they priced their homes appropriately and had the guidance of an experiences and trustworthy realtor in Saskatoon.

There are a total of 627 REALTORS® in Saskatoon which hasn’t changed much since 2017. As one of the three TRUSTED Saskatoon REALTORS® I am proud to have that designation help set me apart from the other 624 real estate agents in Saskatoon and area. I work hard to get my sellers top dollar and a large part of this success is by performing in depth market analysis’s (these often take me 4+ hours) in collaboration with realistic home sellers. If a seller is not realistic about the current market and the information I work very hard to provide then we often see failure.

So if you are looking for a trusted Saskatoon real estate professional who will be honest and work hard to get the job done right please don’t hesitate to reach out to me. Whether you are an experienced buyer or a first time homebuyer in Saskatoon I am also here to help navigate and take care of you throughout the process.