CONTACT

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

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.
 

Posts By Date
The Saskatoon Region Association of REALTORS® (SRAR) IDX Reciprocity listings are displayed in accordance with SRAR's MLS® Data Access Agreement and are copyright of the Saskatoon Region Association of REALTORS®.
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatoon Region Association of REALTORS® displayed on this site is refreshed every 2 hours.
Google Analytics Alternative