2024 was the busiest year for Saskatoon's real estate market since 2006—a milestone year that marked a turning point for home sales and prices. 🚀 So, what does this mean as we head into 2025? And, more importantly, how does it impact you? Let’s break it down.
2024 in Review
It was a year of record-breaking numbers:
Sales-to-Listing Ratio: The market hit a 74% sales-to-listing ratio—the highest since 2006. This means that for every 100 homes listed, 74 were sold.
Inventory Levels: The year ended with just 410 active listings, the lowest inventory level we’ve seen since, you guessed it, 2006.
A Look Back at 2007
If history teaches us anything, it’s that low inventory and high demand tend to push home prices higher. In 2007, after a similarly hot year in 2006, inventory stayed low, sales remained strong, and prices surged dramatically. We’re expecting a similar pattern in 2025.
What to Expect in 2025
Here’s what we’re anticipating:
Continued Low Inventory Levels: The number of homes on the market is likely to stay tight.
Strong Sales-to-Listing Ratios: Expect demand to remain robust, with a high percentage of listed homes selling.
Rising Home Prices: With strong demand and limited supply, average home prices are poised to increase.
What This Means for Sellers
For sellers, 2025 is shaping up to be an ideal time to list your home. With low inventory and high demand, the market is working in your favor. To maximize your results, it’s crucial to price your home competitively and present it effectively.
What This Means for Buyers
For buyers, waiting could cost you more. If home prices rise, you’ll end up paying more for the same property. Acting sooner rather than later could save you money in the long run.
Let’s Chat!
Whether you’re buying, selling, or just curious about Saskatoon’s real estate market, we’d love to hear from you. Let’s make 2025 an exciting year for your real estate goals!
🏡 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
Comments:
Post Your Comment: