Welcome to our monthly real estate market update for Saskatoon. We’re excited to bring you the latest insights and trends. Let's dive into the numbers and what they mean for you!
Current Market Overview
As of July 2nd, there were 631 homes listed for sale in Saskatoon. In June, we saw 540 homes sold, matching the sales figures from last June. This steady number indicates a resilient market, even with fewer homes available. Overall, sales are up 9% this year, signalling strong demand.
Listings and Pricing Trends
June brought 668 new listings, which is a 15% decrease from the previous month and slightly down by 3% compared to June last year. This drop in new listings is making our market feel tighter. The average sale price for a home last month was just under $402,000, a 3% increase from May. Year-to-date, our average sale price is about $393,000, which is a 5% rise from last year. Prices are definitely on the rise!
Record High Prices
Home prices in Saskatoon have hit a record high, with the average home price crossing the $400,000 mark for the first time. Communities like Humboldt, Martensville, and Warman are also experiencing record prices, reflecting strong demand across the region.
Market Dynamics
Even with fewer homes for sale, the eagerness to buy, especially higher-priced homes, is keeping our market vibrant. Higher mortgage rates and rising home prices have created a push for more affordable homes. However, with fewer options, buyers need to act quickly and be prepared to compete.
Advice for Buyers and Sellers
For buyers, this means being ready to move fast and possibly face bidding wars, especially in the mid to higher price ranges. For sellers, it’s a fantastic time to list your home with demand being so high.
Conclusion
Overall, the Saskatoon real estate market remains strong, with steady sales and rising prices. Whether you’re buying or selling, it’s essential to stay informed and work with a knowledgeable real estate professional. If you have any questions or need real estate advice, feel free to reach out to us at Tait Real Estate. We're here to help you navigate the market and find the perfect home or investment.
Thanks for tuning in!
🏡 Tait Real Estate - Realty Executives Saskatoon 🌟
Saskatoon's Premier Real Estate Experts
Jamie Tait
📞 Phone: 306-203-0004
📧 Email: jtait@realtyexecutives.com
Courtney Tait
📞 Phone: 306-221-2321
📧 Email: ctait@realtyexecutives.com
Ross Tait
📞 Phone: 306-230-2338
📧 Email: rtait@realtyexecutives.com