Despite the very cold temperatures in February, Saskatoon and region home sellers found a little warmth as new listings dropped 7% and sales rose 6%.
The Saskatoon Region Association of REALTORS® (SRAR) reported 731 homes were listed, down from 783 in the same month of last year, while sales rose to 296 from 280.
The dollar volume of homes sold through the Multiple Listing Service® (MLS®) rose 4%, to $95.8 million from $92.4 million.
Year to date, listings dropped 7% to 1,591, sales were up 1% to 570, and the dollar volume was down a marginal 1% to $180.8 million.
Excluding the region, new Saskatoon listings were down 8.6% in February to 478 — the fewest since 2013 — while sales held steady with last year, rising by one to 211. Months of inventory dropped to 6.7 from 7.5 last February.
City homes listed to date in 2019, at 1,033, are at their lowest level in nine years. February statistics indicate a change in a market that has been declining for four years.