April 2020 is now in the books and while the Saskatchewan REALTORS® Association has not yet released their official numbers, here's a brief look at what occurred as Saskatonians hunkered down to avoid the Covid-19 virus.
I will add the SRA's media release to the comments of this post when it's released next week.
Well, hello there.
April of 2020 is in the bag and I thought I would give you a little bit of an update on MLS activity in the Saskatoon market, specifically for home sales.
You may recall in March, that the month finished off fairly strong. We ended about 6% higher than we were a year ago. And I think that that was a result of some momentum that had been building for a number of months. And, you know, a number of people who were midway through a move when the state of emergency was declared.
Real estate sales really fell off in April, in a fairly significant way. We saw 213 Saskatoon homes trade hands, which is down from 378 in the same month a year ago, so about a 45% decline. Interestingly though, over the last few weeks, sales seem to be getting some footing and we're actually seeing some growth over the last three weeks. In fact, sales bottomed out Easter week at 34 units. They climbed to 40 the next week, 51 the next week and this week finished with 69 sales. So it looks like people are beginning to feel comfortable getting out and looking at homes again.
New listings fell off in April to under 500, which is pretty remarkable for a spring month, that also down nearly 40% from last year.
Currently, our active listings are sitting at about 1360, which is down 23% from where they stood a year ago.
Prices appear to be holding pretty steady. The average sale price of a Saskatoon home was down $3000 from one year ago, pretty modest decline. But when you look at the home price index and the specific categories of housing, you see single-family homes actually rose $3400 over the month. The benchmark single-family home for Saskatoon, that came in at $305,600, which is down just $500 from a year ago. Townhomes were up $4500 from last month, to $231,900, which is an $18,000 increase on a year-over-year basis. And apartments fell to $165,900, down a thousand dollars from a month earlier and down $1600 from a year ago.
So that's basically it in a nutshell. It remains to be seen what'll happen as the Saskatchewan market begins to reopen and people get a little bit more accustomed to being out of their house on a daily basis.
But I'm gonna crunch numbers over the weekend and do some blogging, so check us out at teamfisher.com if you'd like to have a closer look at the numbers.
TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 1.2 million pages to our visitors in 2019. 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 306-241-6676 or email me at norm at teamfisher.com
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