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Saskatoon home sales soar while new listings fall in November 2019

Click the video below for a two-minute overview of Saskatoon MLS® activity for the month of November 2019. Our statistics graphs are also ready and posted here. I'll include the official media release from the Saskatoon Region Association of REALTORS in the comments section once it has been received.





Saskatoon home sales grew 20 percent during the month of November on a year-over-year basis to produce the largest sales gains recorded for any month this year. The single-family homes category accounted for all of the gains as 181 detached houses traded, up from 137 in November of 2018.

Saskatoon residential sales by category for November 2019


The number of new listings added to the MLS® fell sharply lower to just 451. That is the smallest number of new listings for November in the seven years reflected on our charts.


Meanwhile, MLS® inventory fell to 1534, down from 1,716 a year ago, and at its lowest point for November since 2014.


New and active Saskatoon real estate listings for November 2019


The average sale price of a Saskatoon home remained lower on an annual basis by three percent. A closer look at the benchmark prices of the Home Price Index shows that single-family homes are down about 1.5% annually. Townhome prices slipped modestly by 0.7 percent. Apartments took some hard lumps losing roughly eight percent of their value in a year.


Saskatoon home prices by month and category to November 2019


I'm always happy to answer your Saskatoon real estate questions. My contact information is here.


Norm Fisher

Royal LePage Vidorra

Comments:
Norm Fisher on Dec 6, 2019 12:04 PM posted:
This is SRAR's official media release for MLS sales and listings for November 2019. November brings fewer listings, more sales to housing market Saskatoon — The Saskatoon housing market continued its 2019 trend toward balance last month, as REALTORS® listed fewer but sold more homes than in the previous November, reported the Saskatoon Region Association of REALTORS® (SRAR) Wednesday. City listings fell 16 per cent to 451 from 534, as sales jumped 20 per cent to 243 from 203. Although the average price was down three per cent, to $333,295 from $343,361, dollar volume rose 16 per cent to $81 million, up from $69.7 million. Including the surrounding region, new listings were down 12 per cent to 694 from 791, while sales rose eight per cent to 317 from 294 for a dollar volume of $102.3 million, up one per cent from $101.7 million. In the region alone, including communities such as Warman, Martensville and Dalmeny, new listings fell 11 per cent to 159 from 179, and sales were down nine per cent to 58 from 64. However, the average sales price rose four per cent to $314,650, up from $301,490, for a dollar volume drop of five per cent to $18.2 million. “It’s encouraging to see strength in sales and a slight decline in listings coming to the market, to keep it balanced,” said Jason Yochim, CEO of the Saskatchewan REALTORS® Association (SRA.) Year-to-date numbers reflect similar trends. So far this year, and with only one month to go, Saskatoon agents have listed 7,443 homes to the MLS®, down three per cent from 2018’s 7,646, and sold 3,401, up seven per cent from 3,167. Sales are also up from 2017’s 3,286. The average sales price of $331,457 is statistically the same as last year’s, bringing the dollar volume up seven per cent to $1.1 billion, up from just over $1 billion. In the region, 900 homes have sold so far in 2019, down five per cent from last year’s 943, and listings have fallen three per cent to 2,789 from 2,874. Dollar volume is down eight per cent to $265.5 million from $289.8 million. The average price dropped four per cent to $295,141 from $307,352. At the end of the month, Saskatoon had 1,534 homes on the market, down 11 per cent from 1,716 at the same time last year, while the region had 947 homes, down eight per cent from 1,032. “It’s healthy for the market to see the number of active listings continue to shrink slightly,” said Yochim. “Two years ago, we were tipping over 2,100 at the high-water mark, so 1,500 is certainly good.

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Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

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