Saskatoon home sales show significant improvements from April to May 2020

Saskatoon home sales show significant improvements from April to May 2020

Saskatoon real estate sales showed remarkable improvement during the month of May as both buyers and sellers grew more comfortable with the idea of getting into the market. The number of firm residential trades grew from 213 in April to 326 in May.

To be clear, 326 sales amounts to a drop 22.6% compared to last May, but April had plunged 46% so the May stats deliver some relief. It’s also worth noting that sales numbers grew each week through May.

Saskatoon homes sales by month to May 2020

New listing numbers also saw significant growth on a month-over-month basis. Over May, local REALTORS® added 756 Saskatoon homes to the MLS® database, up from 494 the month before, and down 155 units when compared to May of 2019.

The total number of Saskatoon homes for sale increased by 140 over the course of the month to settle at 1500 at the close of May. That number is down about 23% on an annual basis.

New and active Saskatoon real estate listings by month to May 2020\

The average selling price of a Saskatoon home hit $359,304. That’s up about 26K from last May. At a glance, this number appears to have been skewed higher by a solid number of sales above the $700,000 mark.

A closer look at the MLS® Home Price Index numbers shows that the benchmark price of a single-family home slipped roughly $2700 from last May to $306,500. Townhome prices showed annual growth for the fourth consecutive month. The benchmark price in this category is $236,200 and that’s up more than $17,000 annually. The benchmark apartment price was $169,100. That’s exactly where it was a year ago and it’s the first time in roughly five years that this category did not show an annual decrease.

Saskatoon home prices by month and category to May 2020

The Saskatchewan REALTORS® Association has not issued their media release but I will add it to the comments below when they do.


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Norm Fisher

Royal LePage Vidorra


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