Saskatoon Real Estate News March 13, 2019

February Real Estate Market Update

Record breaking…COLD! The month of February in Saskatoon was colder than ever which contributed to less houses being listed for sale this year than the previous month and year. There were 731 properties for sale in Saskatoon and area compared to 783 in 2018, down 7%. Despite hell freezing over here (I am sure that is what it feels like as REALTORS® in Saskatoon had keys freezing to our fingers!) we had an increase in area sales of 6% where 280 properties sold in 2018 and 296 in 2019.

The average home price in Saskatoon is down 5% from 2018 where the average was $337,497 and this year was $320,864 but the 6 month rolling average was only down 3% from 2018 with this year’s average rolling number at $327,911.

So far this year for the areas surrounding Saskatoon we are seeing a 4% increase in sales to date with 126 properties around Saskatoon selling in 2019 so far, up from 121 the previous year.

The average property price outside of Saskatoon dropped dramatically in February 2019 from 2018, a whopping 25%! Last year the average property price outside of Saskatoon was $318,287 and this year it was $237,962. There can be many factors affecting these numbers such as several high end properties selling or vice versa. The rolling average was only down 3% from the previous year.

In total Saskatoon real estate number of listings is down 4% from 2018 and in Saskatoon itself there are 1467 properties for sale in Saskatoon which is down 8% from the year before. The areas surrounding Saskatoon saw an 8% increase with a total number of 918 properties for sale around Saskatoon.

We have 3 more real estate offices in Saskatoon compared to the year before and a small drop in the number of REALTORS® in Saskatoon with 556 this year compared to 567 the year before. This accounts for sales people but the total number of licensees is over 600.

As always, if you are looking for a trusted Saskatoon REALTOR® I am more than happy to help guide you through the buying and selling process!