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Market Update from October 2018

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Everywhere I go people, when they find out I am a trusted REALTOR® in Saskatoon, ask me the same thing: How is the market in Saskatoon.

To which my answer is: It is a weird market, I have been in the business for 11 plus years now and this is one of the more unpredictable markets I have seen. Sometimes I list a house for sale in Saskatoon (or surrounding areas) and I think to myself ‘this is going to sell super fast, GREAT house, we priced it well, we are doing excellent marketing etc’ and then it sits…and sits…and sometimes continues to siiiiiiittttttt. And then I list a house and I think it will be a slower to move property for sale in Saskatoon and BAM, competing offers!

The numbers from October will paint a picture but at the end of the day we just don’t have that crystal ball.

The good news for sellers is we have a 10% decrease in the amount of condos and houses listed for sale in Saskatoon this year compared to the previous year while the sales are only down 1%. This should help us achieve a more balanced market. There have been 10,929 properties listed for sale this year compared to 12,081 the previous year while sales this year are at 4074 compared to 4099 for the same time frame in 2017.

The Saskatoon average home price has gone down 5% compared to the rolling 6 month average from 2017 which means an average price of $331,643 compared to $348,656 in 2017 and $352,946 the year before.

For the surrounding communities the average selling price is pretty much on par to 2017 to date.

For all of your Saskatoon and area real estate needs please feel free to contact me. Whether you are a first time home buyer in Saskatoon or a seasoned buyer/seller I am sure my expertise will be of advantage to you in your real estate needs.

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