January Real Estate Market Update
The real estate market in Saskatoon was on the quiet side for January which isn’t a surprise as it is January.
The number of properties listed for sale in Saskatoon in January dropped from 923 in 2018 to 861 this year. It is not unusual to see a drop in the number of properties for sale in January compared to other months as it seems a lot of contracts expire on December 31. This will skew the stats but there will likely be more listings coming on as expired properties are revisited on price if they failed to sell in the previous contract.
Saskatoon REALTORS® sold 274 properties in January this year compared to 284 the year before but up from 2017 where only 244 properties sold in Saskatoon.
The average house price in Saskatoon appears to have dropped significantly (12%) from 2017 where it was $344,720 in January compared to $302,412 in January this year but the thing to note is that if there are a lot of high end vs low end sales this skews the numbers as well. The important number is the rolling average price which was down 4% from 2018 where it was $339,635. This year the rolling average price is $325,692 which represents a 4% decrease.
In the surrounding communities the listings stayed pretty consistent from last year at 216 with 60 sales in 2019 compared to 65 the year before. The average price for properties outside of Saskatoon jumped a whopping 23% from $276,448 in 2018 to $341,175 in 2019 but this is likely reflective of some larger acreages and farms selling.
The total number of properties for sale in Saskatoon is currently at 1450 which is down 5% from the year before. Outside of Saskatoon we see a 9% increase with 894 properties for sale.
As far as REALTORS® in Saskatoon and area go we saw a decrease of 14 agents from 2018 and we currently have a total of 614 real estate agents in Saskatoon and area.
If you are looking for a TRUSTED Saskatoon REALTOR® I am your gal! I look forward to helping you achieve your real estate goals in 2019.