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
🏡 Tait Real Estate - Realty Executives Saskatoon 🌟
Saskatoon's Premier Real Estate Experts
Jamie Tait
📞 Phone: 306-203-0004
📧 Email: jtait@realtyexecutives.com
Ross Tait
📞 Phone: 306-230-2338
📧 Email: rtait@realtyexecutives.com
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