Year over Year Average Home Price Declines
Saskatoon January 5, 2019
Year over year average sale price was down 12% in January at $302,412. By comparison, the average price in January of 2017 and 2018 was $341,260 and $344,720 respectively. The challenge with averages is that the numbers can be skewed in a given period and are therefore not a reliable reflection of pricing. For this reason, the Canadian Real Estate Association created the MLS® Home Price Index (HPI) for major cities to give a more accurate reflection of pricing trends. The HPI establishes attributes for a handful of typical housing styles; Single Family, One Storey, Two Storey, Townhouse, Apartment and a composite of all five. It then establishes a base value to each with the starting point of 2005. From that starting point, changes in value are recorded over time to get a better sense of what is happening to pricing and where prices may be trending. For example, the MLS® HPI value for a typical Single-Family home...
Categories: Adelaide/Churchill, Saskatoon Real Estate | Eastview SA, Saskatoon Real Estate | Evergreen, Saskatoon Real Estate | Home Financing | Home Tips | House Hunting | HRV | Kensington, Saskatoon Real Estate | Market | Market Update | Newsletter | North Park, Saskatoon Real Estate | Nutana, Saskatoon Real Estate | Rosewood, Saskatoon Real Estate | Selling | Selling your home | Stonebridge, Saskatoon Real Estate | Sump Pump | Vanscoy Real Estate