I’m not sure why but the Saskatoon Region Association of Realtors® has not yet distributed their monthly media release for July 2019. Since we are well into August already, I thought I’d get some numbers in front of you and I will place their release in the comments below when it does come out.
July was the first month since February of this year that did not record year-over-year increases to unit sale numbers. Local REALTORS® sold 390 Saskatoon homes, precisely the number that sold last July. By month-end, 2,228 homes had traded hands this year leaving us ahead of sales at this time in 2018 sales by 7.2 percent.
Saskatoon condo sales continued to perform very well as 129 buyers scooped one up. That’s the highest number of sales in this category for any month since June of 2015.
New listings were up annually for the first time since March. That’s occurred just twice this year. A total of 748 residential properties entered the MLS®, up from 709 last July. That brings total listings for the year to 4,952, down modestly from 5,116 at the close of July last year.
Active listing inventory continued to soften falling to 1932 by the end of the month. That’s down from 2048 a year earlier and at its lowest July close since 2014.
The average selling price of a Saskatoon home was $331,780 in July, down 1.7 percent from this time last year.
The MLS® Home Price Index shows annual losses for all three major housing types. The benchmark single-family home price is down $2600 from a year aga to $308,700. Apartment prices have slipped $2000 from this time last year, with the indexes benchmark coming in at $175,800. Finally, townhomes saw the biggest year-over-year decline as the benchmark fell $14,000 to $220,000.
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
Royal LePage Vidorra