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Canadian Home Sales See Unexpected Surge to Close Out 2023: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for December of 2023.

Home sales activity recorded over Canadian MLS® Systems rose 8.7% between November and December 2023, putting it on par with some of last year’s relatively stronger months recorded over the spring and summer.

“While December did offer up a bit of a surprise in sales numbers to cap the year, the real test of the market’s resilience will be in the spring,” said Larry Cerqua, Chair of CREA. “There are only a couple of months left until that gets underway. If you’re looking to buy or sell a property in 2024, you’ll want a game plan, so contact a REALTOR® in your area today,” continued Cerqua.

“Was the December bounce in home sales the start of the expected recovery in Canadian housing markets? Probably not just yet,” said Shaun Cathcart, CREA’s Senior Economist. "It was more likely just some of the sellers and buyers that were holding onto unrealistic pricing expectations last fall finally coming together to get deals done before the end of the year. We’re still forecasting a recovery in housing demand in 2024, but we’ll have to wait a few more months to get a sense of what that ultimately looks like.”

Highlights from this report:

  • National home sales jumped 8.7% month-over-month in December.

  • Actual (not seasonally adjusted) monthly activity came in 3.7% above December 2022.

  • The number of newly listed properties dropped 5.1% month-over-month.

  • The MLS® Home Price Index (HPI) fell by 0.8% month-over-month but was still up 0.7% year-over-year.

  • The actual (not seasonally adjusted) national average sale price posted a 5.1% year-over-year increase in December.

Read the recently released national sales statistics for December of 2023.

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TeamFisher.com hosted over 520,000 user sessions last year and displayed more than three million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Saskatoon Real Estate


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Saskatoon home prices hit record highs for December 2023 by every measure: SRA

Saskatoon home sales continued to cook through December as local REALTORS® reported 230 firm sales to the multiple listing service®. That’s down from 314 in November, but up by 28 units compared to December of 2022, despite continuing struggle of low inventory.

All of the gains would be counted in the condo category. Sales grew to 85 this December, up from 58 for the same month last year.

Sales for the year came in at 2790, down one percent from 2022.

The number of new listings to hit the Saskatoon market in December showed some modest gains as they grew by 17 annually to reach 248, barely replacing what was sold.

The number of options available to Saskatoon home buyers slipped to just 691 by the close of December. That’s down by 126 from last month’s close, and lower annually by 179. This is the smallest number of active listings for December in more than 15 years. As you can see by the graph below, active listings just continue to fall lower as each year passes, even as our population grows.

“Months of supply” improved from 2.6 to 3.0 but that will change quickly as sales begin to grow, as they always do after bottoming out in December.

A total of 4,256 Saskatoon homes were listed on the MLS in 2023, down 17 percent from the previous year.

With strong sales over the back half of 2023, and weak new listing activity it’s no surprise that Saskatoon home prices reached new highs for December by every measure.

The average price of a Saskatoon home took a hefty upward bounce from November as it grew by a little less than eight thousand dollars to $373,422 to record an annual increase of just under 2K.

The Benchmark price of a single-family home slipped by just over 6K from last month to settle at $420,300. That’s higher than it was last December by just over $26,000.

The Benchmark price of a Saskatoon townhouse dipped $2700 from the previous month to $311,300 to record a significant annual gain of $20,300.

The Benchmark price of a Saskatoon apartment fell $5,000 from last month setting at $223,400, still higher from December of last year by $5800.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

TeamFisher.com hosted over 520,000 user sessions last year and displayed more than three million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.

We’re always happy to answer your Saskatoon real estate questions. Click here to reach out.

TeamFisher, your Saskatoon real estate market specialists.

Royal LePage Saskatoon Real Estate


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The Saskatchewan REALTORS® Association (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).
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