Saskatoon home sales remained strong through October, growing by 12 units when compared to numbers generated in September. Local REALTORS® closed 444 sales, another record number for the month, beating last October by 15 sales. That’s close to 30 percent higher than the ten-year average.
Year-to-date, sales are up about seven percent over last year.
The number of Saskatoon homes listed for sale continued to tumble lower falling from 654 in September to just 517 in October.
As buyers remained vigilant watching for opportunities, homes moved quickly and inventory continued to trend lower falling by 115 units through the month to close October with just 803 residential properties for sale on the MLS®.
Months of supply fell sharply from 2.1 in September, to just 1.8 by the time business closed on the final day of October as a strong seller’s market continued.
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.
Still, the average sale price of a Saskatoon home took a modest dip slipping from $409,474 last month to $400,032 to finish the month higher annually by four percent.
The benchmark price of a single-family home as recorded on the MLS® Home Price Index also fell lower as it slid $5500 to $460,400. That’s still higher than it was a year ago by seven percent.
Townhomes continued on an upward trend with the benchmark price reaching $340,900, up $3500 from the previous month and higher than it was at this time last year by ten percent
Apartments prices continued to outperform the market by leaps and bounds as the benchmark price reached $255,905 for a monthly gain of close to 12K and an annual increase of a whopping 13 percent.
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TeamFisher, your Saskatoon real estate market specialist.
Royal LePage Saskatoon Real Estate
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