Saskatoon home sales fell lower monthly dropping to 432 units, compared to 457 the month before. Still, that was enough to top sales numbers generated in September 2023 by almost 60 units. It was the strongest September in the past six years. Year-to-date, residential sales are higher by six percent from last year and up a staggering 19 percent when compared to the ten-year average.
Meanwhile, sales in the single-family homes category grew by four from last month to 262 for an annual increase of 42 while the number of condos to sell slipped lower from 163 last month to 150, claiming an increase annually of 20 units.
After two months of gains, the number of Saskatoon homes listed for sale slipped to 654, a drop of 63 from last month but higher than the same month last year by 79 units.
The increase in sales over last year quickly swallowed up the inventory preventing it from growing much at all, as often happens at this time of the year. We closed September with 918 active listings, up just four from August and lower annually by 58.
Months of supply grew from 2.0 last month to 2.1 in September, which while improved is still very firmly in seller’s market territory. Again, supply levels of less than four months signal a seller’s market. A supply of four to six months is considered balanced. A supply larger than six months would be a buyer’s market.
On the heels of a hefty dip in August, the average sale price of a Saskatoon home rebounded from $389,684 last month to $409,474, well up from $373,298 average recorded for the same month last year.
The benchmark price of a single-family home as recorded on the MLS® Home Price Index slipped lower for the second consecutive month as it fell $4500 from the previous month to $458,900. That’s higher than it was a year earlier by 29K.
Townhomes took a dip to $332,800. That’s lower than last month by $1700 but higher annually by twenty thousand dollars, and I believe at a record high.
Apartment prices continued to cook growing by $1200 from the previous month to reach a new record high of $244,100. That’s higher than last year by $23,000.
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TeamFisher, your Saskatoon real estate market specialist.
Royal LePage Saskatoon Real Estate
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