Market Update

September Brings Increases in Saskatoon Home Sales, Listings and Prices

October 4th, 2019

Saskatoon — The first month of autumn had spring in its step as Saskatoon’s residential housing market saw increases in listings, sales and the average price, according to statistics from the Saskatoon Region Association of REALTORS® (SRAR).

 

Sales rose 14 per cent to 305, up from last September’s 267 and 260 the year before, while the average price was up 10 per cent to $351,741 from $319,534.

 

Those factors contributed to a 26 per cent jump in the dollar volume of sales, which came in at $107.3 million — well up from $85.3 million last September and $89.5 million in 2017.

 

More homeowners decided to put their properties on the market, as well, listing 717 homes, up 11 per cent from 647 last year.

 

“The market is really balanced right now,” said Trevor Schmidt, interim CEO of SRAR. “With the sales to listing ratio being at 43 per cent, it indicates both sellers and buyers are able to come together and get deals done. It’s a good situation for both seller and buyer.

 

“If you go back six months, the market has been trending toward balance.”

 

Year-to-date, sales in the city are up seven per cent to 2,855 from 2,677, while listings have fallen two per cent to 6,393 from 6,520. The average price of $332,762 is practically unchanged from last year’s $332,757.

 

In the region surrounding Saskatoon, including the cities of Warman and Martensville, sales were down 11 per cent to 76 from 85 in September while listings rose 14 per cent to 227 from 199. The average selling price, however, was up three per cent to $302,502. Dollar volume came in at $22.9 million, down eight per cent from last year’s $25 million.

 

Regional year-to-date sales are down five per cent to 755 from 797, and listings are down one per cent to 2,422 from 2,454. The average price so far this year is down three per cent to $295,187 from $303,636, and dollar volume has fallen eight per cent to $222.8 million from $242 million.

 

At the end of September, active residential listings in the city were down two per cent to 1,896 from last year’s 1,944. Listings in the region were also down two per cent to 1,143 from 1,161.

 

Prince Albert - The Prince Albert region’s September market was stable with last year, posting 46 sales — down by just one unit — and precisely the same number of listings, at 125. Dollar volume receded two per cent to $10.25 million from $10.5 million.

 

However, year-to-date, the dollar volume is up two per cent to $99.7 million from $97.7 million, on sales of 465, up eight per cent from last year’s 431. Listings have fallen by four per cent to 1,318 from 1,371.

 

September’s average selling price in the city itself was up six per cent to $247,338 from $232,563, while the year-to-date number is down five per cent to $219,288. In the region, the average was up one per cent to $222,154, although the year-to-date price is down 14 per cent to $207,563.

 

The Battlefords - The Battlefords and region housing market rebounded significantly in September. Fortyfour homes sold, up eight per cent from last year’s 37, while the dollar volume jumped 40 per cent to $9.4 million, up from $6.7 million. Listings were also up eight per cent to 84 from 78.

 

The average selling price came in at $210,206, up six per cent from last year’s $198,660. In the Battlefords cities, sales came in at 17, up from 15 last year, at an average price of $210,206, up six per cent from $198,660. Listings were up 17 per cent to 41 from 35. Dollar volume jumped 20 per cent to $3.6 million from $3 million.

 

Regional sales rose 50 per cent to 24 from 16, at an average price of $228,267, up 26 per cent from $181,056. Listings in the region were up 21 per cent to 29 from 24.

 

Year-to-date, the Battlefords and region saw a six per cent drop in unit listings to 973, down from 1,039; and a two per cent increase in sales, to 297 from 291. Dollar volume is down 10 per cent to $57.2 million from $63.8 million

For further information, please contact:

Trevor Schmidt 

interim Chief Executive Officer

Saskatoon Region Association of REALTORS®

306-343-3445

trevor@srar.ca

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