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Saskatoon homes sales increase for third consecutive month in January 2018: SRAR

A media release from the Saskatoon Region Association of REALTORS® with an overview of residential MLS® sales and listing activity for the month of January 2018 follows.


Saskatoon home sales are off to a positive start in 2018. The number of transactions that occurred in January was 203 which represents an 11 percent increase over January of 2017. The five-year average for January is 194 units. Last month’s sales activity also resulted in an increase in the overall dollar volume by 10.5 percent to $90,673,143 which is the highest dollar volume for any January since 2014. Sales in the region surrounding Saskatoon, including the cities of Warman and Martensville showed a 27.5 percent increase with 65 transactions and an 11.7 percent increase in dollar volume to $18,049,600.


“While it is still very early in the year, the past three months have shown trends of increasing sales for Saskatoon, which is certainly a positive sign after many months of lower sales”, according to Jason Yochim, CEO of the Saskatoon Region Association of REALTORS® (SRAR).


Saskatoon home prices by month and category to January 2018



The average sale price for a home in Saskatoon was $344,771, up one percent from last January while the median price increased by 4.1 percent to $330,000. Significant increases in the number of homes selling in the higher price ranges contributed to these upward pricing changes. Overall the number of sales between $400,000 and $1 million increased by 45 percent with 64 sales. The number of homes that sold in January between $500,000 and $750,000 made up just over a third of the 64 transactions. The number of home sales between $200,000 and $300,000 remained strong and consistent with last January at 56 transactions. Many of these would be condominium sales which helps to absorb inventory in that sector of the market.


The Home Price Index (HPI) composite benchmark value declined by 4.1 percent in January to $293,300, its lowest point since February of 2012. With the exception of a couple of months in the spring of last year, the HPI composite value has been in an overall decline since August of 2016 when it was at $317,600.


Saskatoon home prices by month and category to January 2018



“If inventory levels continue to decline due to absorption and fewer properties being listed, we should expect to see some increase in home prices later in the year,” predicts Yochim. The number of active listings in Saskatoon at the end of January was 1,529, the lowest level in the past three years for January and a four percent reduction from last year. This was aided by the increase in sales and a 14 percent decline in the number of new listings for January.


Saskatoon real estate listings (new and active) through the multiple listing service in January 2018



Jason Yochim CAE, CRAE

Chief Executive Officer

Saskatoon Region Association of REALTORS®

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale.Less...

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale. Known locally as an impact leader he supports many organizations that serve our community’s most vulnerable people like the Saskatoon Interval House, the YWCA Crisis Shelter, the Lighthouse, the Friendship Inn and others. He has participated in several physically daunting charitable challenges and helped raise over one million dollars for women's shelters across Canada. Additionally, he’s a charter member of 100 Men Who Give a Damn in Saskatoon, a group of local philanthropists who are driven to bring positive change to those in need within our community. Fisher is a licensed real estate broker and owner of Royal LePage Vidorra, a boutique brokerage known for technology and innovation.

Note: We are in the process of bringing this blog home to the TeamFisher.com domain and we have a lot of stuff to move! Another 700 posts can be found at normfisher.com where they'll remain until we can get them moved here.

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