RSS

Saskatoon, November 3, 2017

Conditions remain ideal for those in search of a new home in Saskatoon. There was a total of 1,967 active listings at the end of October in Saskatoon plus an additional 1,022 available residential properties in the region outside Saskatoon. This is an increase of almost 12% in active residential listings compared to the same point last year. With upcoming mortgage rule changes in the new year, relatively low interest rates and more available homes, this is an ideal time for buyers to tie up that purchase.

The sales to listing ratio for Saskatoon was just over 40% in Saskatoon in October. This means that for every 10 homes that were listed, four were successfully sold. The number of sales for October in Saskatoon was 287 units. Although this was an 8% decline compared to October 2016, it represented an increase of 10% over September's sales of 262. Year to date sales for Saskatoon a the end of last month were 3,030 units which is a 6.7% decrease for the same period last year. Year to date a total of 8,069 home were placed on the market in Saskatoon, down slightly from 8,217 the previous year.

“I expect that there may be a slight spike in sales as the year winds down” comments Jason Yochim, CEO with the Saskatoon Region Association of REALTORS®, “this would be due to recently introduced mortgage qualification rules for conventional buyers plus a sense of upward pressure on interest rates.” The federal government continues to address issues with overheated markets in Canada's two largest cities. These rule changes however affect local real estate markets much differently.

The average days on market for a home in Saskatoon was 54 days which is unchanged from September and slightly higher when compared to October of 2016 where it took an average of 50 days to sell. Not surprising, with higher inventory levels, and declines in sales, the average selling price for a home in Saskatoon continues to decrease, with a year over year decline of 3.2% to $331,889.

The Median price however remained unchanged at $330,000. The MLS® Composite Home Price Index (HPI) Benchmark Price increased by 5.1% to $328,600. The Composite HPI measures the rate of change in a benchmark price for a typical home and is the most accurate indicator of pricing direction in a market. This increase would suggest that in spite of a decline in the average home price, the trend is moving upward for home prices.

The Saskatoon Region Association of REALTORS® has a membership of just over 600 licensed and knowledgeable REALTORS® who can provide sound market advice. REALTORS® also subscribe to a strict code of ethics and are dedicated to developing professional standards and continuing education in the real estate profession.


Jason Yochim CAE, CRAE
Chief Executive Officer
Saskatoon Region Association of REALTORS® 
Read
Categories:   Saskatoon Real Estate | 10-step Marketing Plan | 2024 Home Goals | Adelaide/Churchill, Saskatoon Real Estate | affordable homes | affordable homes in canada | Arbor Creek, Saskatoon Real Estate | Aspen Ridge, Saskatoon Real Estate | Attracting Buyers During the Holidays | Best home realtor Saskatoon | best place to live | Blairmore, Saskatoon Real Estate | Brevoort Park, Saskatoon Real Estate | Briarwood, Saskatoon Real Estate | Brighton, Saskatoon Real Estate | builder reputation | buying a home in saskatoon | Buying And Selling Tips | canadian real estate | Carpentry Expertise | Central Business District, Saskatoon Real Estate | choosing a builder | City Park, Saskatoon Real Estate | Clavet Real Estate | Confederation Park, Saskatoon Real Estate | Corman Park Rm No. 344 Real Estate | customization and standard features | Deb Murdoch | December | December Home Sales | Declutter Your Home | Depersonalize | dream home planning | Dundonald, Saskatoon Real Estate | Eastview SA, Saskatoon Real Estate | Economic Outlook | Episode Guide | Evergreen, Saskatoon Real Estate | Exhibition, Saskatoon Real Estate | Fairhaven, Saskatoon Real Estate | financial tips | First Time Home Buyers | Forest Grove, Saskatoon Real Estate | Government incentives | Grandora Real Estate | Greystone Heights | Greystone Heights, Saskatoon Real Estate | Hampton Village, Saskatoon Real Estate | Haultain, Saskatoon Real Estate | heart of canada | hidden gem | Holiday Home Selling Tips | Holiday Selling Season | Holliston, Saskatoon Real Estate | home builder warranty | home building tips | Home Buying Advice | Home buying realtor Saskatoon | Home Buying Tips | Home Financing | home loan choices | Home Pricing Guide | Home Quality Checks | Home Sale Decor Tips | Home Selling Holiday Guide | Home Selling Strategies | Home Selling Tips | Home Staging Tips | Home Tips | Hot Market | House Hunting | housing affordability | Housing Market Analysis | HRV | interest rates | interest rates and housing | investing in saskatoon property | investment opportunity | June Market Update | Just Listed | Kensington, Saskatoon Real Estate | Laird Real Estate | Lakeridge SA, Saskatoon Real Estate | Lakeview SA, Saskatoon Real Estate | Lawson Heights, Saskatoon Real Estate | Lemon Basil Martini | Listings | local expert | Maintenance | March | Market | Market Stability | Market Statistics | Market Trends | Market Update | Marketing | Martensville Real Estate | MLS Saskatoon | Montgomery Place, Saskatoon Real Estate | Mortgage | mortgage lending | Mortgage News | mortgage options | mortgage rates canada | mortgage strategies | Mortgages | new home construction | New Listings | New Year New Home | Newsletter | North Park, Saskatoon Real Estate | November Market Update | Nutana, Saskatoon Real Estate | October Market Update | Pilger Real Estate | Professional Realtor Advantages | Property Insights | property investment | Property Marketing Strategies | Queen Elizabeth, Saskatoon Real Estate | Real Estate Advice | Real Estate Communication Skills | Real Estate Expertise | real estate finance | Real Estate Grants | Real Estate Investing | Real Estate Market Insights | real estate market trends | Real Estate Marketing | Real Estate Marketing During the Holidays | Real Estate Tips | Real Estate Trends | Realtor Skills | residential home builders | Residential Property | Richmond Heights, Saskatoon Real Estate | Rosewood, Saskatoon Real Estate | Rosthern Real Estate | Sales-to-Listing Ratio | Saskatchewan Housing Market | saskatchewan real estate | saskatoon growth | saskatoon home sales | Saskatoon Homes | Saskatoon homes for sale | Saskatoon homes for sale agent | Saskatoon housing agent | Saskatoon Housing Market | Saskatoon Listings | saskatoon living | Saskatoon Market | Saskatoon Property Trends | Saskatoon Real Estate | Saskatoon Real Estate Market Update | Seasonal Home Selling Advice | Seasonal Selling Advantages | Selling | Selling your home | Selling Your Home in Winter | Selling Your House in Winter | September Market Update | Shields Real Estate | Silverspring, Saskatoon Real Estate | Silverwood Heights, Saskatoon Real Estate | Spring | Spring Maintenance Checklist | Staging Your Home for the Holidays | Stonebridge, Saskatoon Real Estate | Successful Home Sales | Sump Pump | Sutherland, Saskatoon Real Estate | tait real estate | Tait Real Estate Saskatoon | Tasteful Holiday Decorations for Home Sales | Thirsty | Thirsty Thursday | Top residential real estate agents Saskatoon | Unique Realtor Traits | Vanscoy Real Estate | Vanscoy Rm No. 345 Real Estate | Wakaw Lake Real Estate | Warman Real Estate | Westmount, Saskatoon Real Estate | Wildwood, Saskatoon Real Estate | Willowgrove, Saskatoon Real Estate | Year-End Real Estate
The Saskatchewan REALTORS® Association (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatchewan REALTORS® Association (SRA) displayed on this site is refreshed every 2 hours.