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 jump—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
🏡 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
🌐 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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