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Market Stats - June 2024

Saskatoon Real Estate Market Update for July 2024

The Saskatoon real estate market continues to demonstrate robust and positive trends. Hereโ€™s a detailed look at the latest statistics from June 2024.

Sales Volume

This year has seen a significant uptick in property sales. In June 2024 alone, there were 540 homes sold, maintaining the same number of sales as June 2023. This consistency highlights the market's resilience and strength, even with fewer homes available. Overall, sales are up 9% year-to-date, showcasing a healthy demand for properties in Saskatoon.

Inventory

As of July 2nd, there are 631 active MLS listings in Saskatoon. In June, the market welcomed 668 new listings, marking a 15% decrease from the previous month and a slight 3% decrease compared to June last year. This reduction in new listings has tightened the market, creating a competitive environment for buyers.

Average Price

The average sale price for a home in June 2024 was just under $402,000, reflecting a 3% increase from May. Year-to-date, the average sale price stands at approximately $393,000, which is a 5% rise compared to last year. Saskatoon has achieved a record high with average home prices surpassing the $400,000 mark for the first time. Surrounding communities like Humboldt, Martensville, and Warman are also experiencing record prices, indicative of the strong demand in the region.

Market Dynamics

Despite fewer homes being available for sale, the eagerness to purchase, especially higher-priced homes, keeps the market lively. With higher mortgage rates and rising home prices, thereโ€™s a significant push for more affordable homes. However, the limited supply means buyers need to act quickly and be ready to compete, often facing bidding wars, particularly in the mid to higher price ranges.

Summary

These figures indicate a healthy and growing real estate market in Saskatoon, making it an opportune time for both buyers and sellers. Whether youโ€™re considering buying or selling, itโ€™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.

๐Ÿก Tait Real Estate - Realty Executives Saskatoon ๐ŸŒŸ

Saskatoon's Premier Real Estate Experts

Jamie Tait
๐Ÿ“ž Phone: 306-203-0004
๐Ÿ“ง Email: jtait@realtyexecutives.com

Courtney Tait
๐Ÿ“ž Phone: 306-221-2321
๐Ÿ“ง Email: ctait@realtyexecutives.com

Ross Tait
๐Ÿ“ž Phone: 306-230-2338
๐Ÿ“ง Email: rtait@realtyexecutives.com

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Saskatoon Real Estate Market Update for July 2024

Welcome to our monthly real estate market update for Saskatoon. Weโ€™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, itโ€™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 youโ€™re buying or selling, itโ€™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!

๐Ÿก Tait Real Estate - Realty Executives Saskatoon ๐ŸŒŸ

Saskatoon's Premier Real Estate Experts

Jamie Tait
๐Ÿ“ž Phone: 306-203-0004
๐Ÿ“ง Email: jtait@realtyexecutives.com

Courtney Tait
๐Ÿ“ž Phone: 306-221-2321
๐Ÿ“ง Email: ctait@realtyexecutives.com

Ross Tait
๐Ÿ“ž Phone: 306-230-2338
๐Ÿ“ง Email: rtait@realtyexecutives.com

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Tait Real Estate May Market Update

In this months update, we break down the current Saskatoon market trends, and what they mean for you. 

The Saskatoon real estate market is currently showing strong and encouraging trends. There's been a noticeable increase in sales, with 29% more homes sold this month compared to last year. Additionally, home prices are on the rise, with a 7% rise year-to-date.

This healthy market growth makes it a great time to consider buying or selling a home in Saskatoon. We are seeing properties sell quickly, in some cases with multiple offers and even over asking price.

In April 2024, the Saskatoon real estate market experienced vibrant and positive trends.

Sales Volume - This year has seen a significant uptick in property sales, with a 29% increase this month alone, and a 14.5% rise year-to-date. Specifically, there have been 522 properties sold this month, a substantial increase from the 406 sold during the same period last year. This represents an impressive addition of 116 units sold compared to April last year.

Inventory - There are 582 active MLS listings in the city as of May 1st, 2024. the market welcomed 728 new listings in April marking a 9% increase over last April. However, looking at the year-to-date figures, new listings have slightly decreased by 1.2%.

Average Price - The average sale price also shows a robust growth, with the month-to-date average reaching $394,213โ€”an 8% increase from $366,626 in April last year. The year-to-date average sale price stands at $388,891, up 7% from $364,713 in the same period in 2024. 

Summary - These figures indicate a healthy and growing real estate market in Saskatoon, making it an opportune time for both buyers and sellers.

๐Ÿก Tait Real Estate - Realty Executives Saskatoon ๐ŸŒŸ

Saskatoon's Premier Real Estate Experts

Jamie Tait
๐Ÿ“ž Phone: 306-203-0004
๐Ÿ“ง Email: jtait@realtyexecutives.com

Ross Tait
๐Ÿ“ž Phone: 306-230-2338
๐Ÿ“ง Email: rtait@realtyexecutives.com

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Saskatoon Real Estate Market - February Snapshot

In February 2024, the Saskatoon real estate market showed significant activity, with some notable trends in sales, listings, and average sale prices.

Sales Volume

Compared to the previous year, sales saw a substantial increase both for the month and year-to-date (YTD), with a 22% rise. Specifically, there were 309 properties sold, marking an increase of 56 units or 22% over the 253 sales recorded during the same period last year.

Inventory

The market had a total of 548 active MLS listings. The number of new listings in Saskatoon also experienced a slight change, totaling 434 for the month. This represents a modest 2% increase from the previous February, which had 426 new listings. However, when looking at the year-to-date figures, there's a slight decrease of 5%, indicating a mixed trend in new market entrants.

Average Price

The average sale price for homes in Saskatoon during February 2024 was $366,485, which is a 2.8% increase from the $356,597 average sale price recorded in February of the previous year. Moreover, the year-to-date average sale price showed more substantial growth, reaching $374,787. This marks a 6.3% increase from the $352,601 average in February 2023, showcasing a healthy appreciation in property values over the year.

Summary

Overall, the Saskatoon real estate market in February 2024 demonstrated robust sales growth and a slight increase in new listings, alongside a notable rise in average sale prices both monthly and year-to-date, reflecting a positive trend for the local real estate landscape.

Saskatoon Real Estate Market Statistics at a glance:

Active Listings: 548

Sales Increase: +22% (Month and YTD)

Sold Properties: 309

Comparison to Last Year: +56 units sold

New Listings: 434, up 2% for the Month and down 5% YTD

Average Sale Price (YTD): $374,787, up 6.3% from last year

๐Ÿก Tait Real Estate - Realty Executives Saskatoon ๐ŸŒŸ

Saskatoon's Premier Real Estate Experts

Jamie Tait
๐Ÿ“ž Phone: 306-203-0004
๐Ÿ“ง Email: jtait@realtyexecutives.com

Ross Tait
๐Ÿ“ž Phone: 306-230-2338
๐Ÿ“ง Email: rtait@realtyexecutives.com

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Saskatoon Real Estate Market: January 2024 Snapshot

In January 2024, Saskatoon's housing market was buzzing, reflected in both the sales volume and average sale price movements.

Inventory

As of February 1, 2024 there were 698 homes listed on the Saskatoon MLS. January experienced a slight downturn in the number of new listings, which totalled 364, marking a 12% decrease both for the month and YTD when compared to the previous year's count of 414 new listings in January. This reduction suggests a tightening market, where demand could potentially outstrip supply. This means, as a seller, you'd find a bit less competition for your listing. There are fewer homes on the market, making it a bit easier for your listing to stand out.

Sales Volume

Sales performance saw a significant increase, with the number of properties sold rising by 22% for the month, as well as year-to-date (YTD), reaching a total of 245 sales. This marked a considerable growth compared to the same period last year, which recorded 201 sales, translating to an increase of 44 units. Such an upward trend underscores a growing buyer interest which is pretty great news for sellers.

Average Price

Also, for sellers, it keeps getting better. The average price for a home sold in January was $385,259, which is a pretty big jumpโ€”about 10.8% more than last year. So, homes are not only selling, but they're also selling for more.

Summary

All in all, January was a great month for Saskatoon's real estate market. More homes were sold, there were fewer new listings, and prices were up. It's a good time to be selling a house in Saskatoon!

Saskatoon Real Estate Market Statistics at a glance:

  • Active Listings: 698

  • Sales Increase: +22% (Month and YTD)

  • Sold Properties: 245 (in areas S1 - S5)

  • Comparison to Last Year: +44 units sold

  • New Listings: 364, down 12% (Month and YTD)

  • Average Sale Price (MTD and YTD): $385,259, up 10.8% from last year

๐Ÿก Tait Real Estate - Realty Executives Saskatoon ๐ŸŒŸ

Saskatoon's Premier Real Estate Experts

Jamie Tait
๐Ÿ“ž Phone: 306-203-0004
๐Ÿ“ง Email: jtait@realtyexecutives.com

Ross Tait
๐Ÿ“ž Phone: 306-230-2338
๐Ÿ“ง Email: rtait@realtyexecutives.com


๐ŸŒ Website: www.taitrealestate.ca

Reach out today and let's make your property dreams a reality in the heart of Canada!

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Saskatoon Real Estate Market Stats - December 2023

The Saskatoon real estate market in December 2023 showed noteworthy trends, reflected in several key statistics:

Active Listings: The total number of Active MLS listings is 692.

Sales Performance: There was a significant increase in sales for the month, up by 14%, with a modest year-to-date (YTD) increase of 1.5%. A total of 230 properties were sold during the month, which is a notable increase from the 202 properties sold in the same period last year, representing an addition of 28 units. This upward trend in sales volume is a positive indicator for the Saskatoon real estate market.

New Listings: The market witnessed 248 new listings in December. This figure represents a 7% increase compared to the same month last year. However, when looking at the year-to-date numbers, there is a decrease of 7%, from 418 last year to the current number.

Average Sale Prices: The Average Sale Price for the month was $373,422. This is a slight increase of 0.48% from $371,646 in December 2022. The Year-to-Date Average Sale Price also saw an increase. Standing at $375,123, it represents a 2% increase from the previous year's $368,891.

Summary: Overall, the Saskatoon real estate market in December 2023 experienced a boost in sales volume with a moderate increase in average sale prices. The number of new listings rose for the month but showed a decrease on a year-to-date basis. These figures suggest a steady demand in the market, coupled with a relatively stable pricing environment, making it a potentially attractive time for both buyers and sellers in the region.

๐Ÿก Tait Real Estate - Realty Executives Saskatoon ๐ŸŒŸ
Saskatoon's Premier Real Estate Experts

Jamie Tait
๐Ÿ“ž Phone: 306-203-0004
๐Ÿ“ง Email: jtait@realtyexecutives.com

Ross Tait
๐Ÿ“ž Phone: 306-230-2338
๐Ÿ“ง Email: rtait@realtyexecutives.com

๐ŸŒ Website: www.taitrealestate.ca

Reach out today and let's make your property dreams a reality in the heart of Canada!

Read
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