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.) All Saskatchewan REALTORS® associations will amalgamate under the SRA banner in January, 2020.

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.”

* statistics received from SRAR, Jason Yochim, CEO of SRA

As the weather cooled in October, residential sales in Saskatoon, Prince Albert and the Battlefords warmed over last year, the Saskatoon Region Association of REALTORS® (SRAR) reported today.

In the city of Saskatoon, sales rose seven per cent to 306, up from last October’s 285, helping to drive the dollar volume up five per cent to $97.5 million from $92.6 million. Listings also rose marginally to 599, up one per cent from 591. The average selling price fell two per cent to $318,450, down from $325,016.

Trevor Schmidt, interim CEO of SRAR, noted that the average five-year median sales price — $333,154 has not changed much over the past several years.

“This year, we’re tracking at the same level as the five-year average,” he said. “The market is neither high nor low; it has stabilized.

Another indication of stability in the Saskatoon market is the average length of time it takes to sell a home. Both in October and year-to-date, that average was 54 days.

“The five-year average is 55,” noted Schmidt. “Things have been quite stable considering what’s happened with the economy.”

“It shows the importance of using a REALTOR® to price properties according to what’s happening in the market, which helps foster a quicker sale.”

Year-to-date, 6,992 homes have been listed to the Multiple Listing Service® System (MLS®), down two per cent from 7,111 in 2018. Of those, 3,160 have sold, up seven per cent from 2,962, at an average price of $331,349 — statistically stable with last year’s $332,012. The dollar volume broke through the billion-dollar mark to $1.05 billion, up six per cent from $983.4 million last year.

In Saskatoon and area, which includes such communities as Dalmeny, Warman and Martensville, sales rose five per cent to 414, up from 393, in October. Year-to-date sales are up three per cent to 4,213 from 4,072, and also up from 4,099 in 2017.

Unit listings in the city and region fell two per cent to 889 from 904 last month, and also dropped two per cent year-to-date, ending October at 10,710, down from 10,895 in 2018. While the dollar volume was down two per cent in October, to $129.2 million from $132.4 million, the year-to-date volume is up two per cent to $1.365 billion from $1.342 billion.

The region alone saw a six per cent drop in listings, to 208 from 222, in October, and a seven per cent hike in sales to 88, up from 82 last year. Dollar volume in the region fell 13 per cent to $24.7 million from $28.5 million. The average selling price came in at $281,534, down 19 per cent from $348,038.

Active listings ended October down four per cent to 3,442 in Saskatoon and area, from 3,584 in 2018 and also down from 3,725 at this time in 2017. In the city, 1,712 listings were available, down five per cent from 1,808, and 1,020 homes were on the market in the region, down seven per cent from last year’s 1,095.

* statistics received from SRAR, Trevor Schmidt, Interim CEO of SRAR

Saskatoon — Hot weather and summer holidays brought a slight cooling to Saskatoon
and region’s housing market, as sales and total dollar volume fell by 9.8 and 9.4 per cent
respectively from last July.

Multiple Listing Service® (MLS) sales totaled 481, down from 533, while listings rose a
marginal 0.4 per cent to 1,140. Dollar volume fell to $154.7 million from last year’s $170.7
million, reported the Saskatoon Region Association of REALTORS® (SRAR).

“Typically, people think summer will always be busy, but spring is the busiest market,” said
SRAR CEO Jason Yochim. “It tapers off a bit in summer. Winter weather can be brutal, and
people take advantage of summer when it’s here.”

Still, year-to-date numbers remain up over 2018. Sales rose 4.4 per cent to 2,968 from
2,843, while dollar volume is up 2.8 per cent to $964.7 million from $938.7 million. Listings
so far this year are down 2.2 per cent, to 7,724 from 7,900; and well down from 2017’s
8,692.

In the city of Saskatoon, July sales were exactly on par with last year’s 390 transactions
and well up from 310 in 2017. Dollar volume fell 1.7 per cent to $129.4 million, while
listings rose 5.5 per cent to 748 from 709.

Year-to-date, and largely due to a strong spring market, the city’s dollar volume is up six
per cent to $739 million from $696.4 million last year. Sales increased seven per cent to
2,228 from 2,081 and listings fell three per cent to 4,952 from 5,116.

Active listings in Saskatoon are down 5.7 per cent to 1,932 from 2,048 last year, while the
region’s listings are down 0.7 per cent to 1,213 from 1,221.

In July, the city’s sales-to-listings ratio reached 52 per cent, which is considered a balanced
market.

“Inventory levels are still declining, and that’s a good sign,” Yochim said. “The slight
decline over the last three years helps us maintain a balanced market.”

The city’s average price slipped 1.7 per cent to $331,780 in July. Year-to-date the price has
fallen one per cent to $331,649.

“It’s good to see in the city that while the average price dropped in 2017 and 2018, we’re
very close to those values, so it’s levelled a bit,” Yochim said. “Overall, it’s positive; it’s
stable. We’ve seen some good growth in Saskatoon in the last quarter. Our sales numbers
year-to-date are the highest in three years.”

The surrounding region saw less-robust interest from buyers. July sales dropped
nearly 40 per cent to 69 sales from last year’s 114, and dollar volume fell 35 per cent
to $21.5 million from $33 million. Listings were down 3.3 per cent to 291 from 301.

However, the region’s average sales price rose 7.5 per cent to $311,998 in July, up
from last year’s $290,322. To date, the price is down 5.2 per cent to $294,389.

Prince Albert and region saw a burst of activity in July, posting 75 sales for an increase
of 74.4 per cent from last year’s 43. That brings year-to-date sales to 345, up 5.8 per
cent from 326.

Dollar volume jumped accordingly by almost 49 per cent to $16 million, up from $10.8 million last year.

Listings were also up by 4.8 per cent in July to 152, but down by one to 1,052

year-to-date.

Average prices fell in both Prince Albert and region, by 12 per cent to $217,111 in the
city proper and 26.3 per cent to $190,991 in the region.

“A little pent-up demand finally kicked in, which is good. Buyers are seeing the
inventory they’re looking for to purchase,” Yochim said. “As you have lower sales, if it
starts to grow the inventory, you’re going to have more selection.”

The Battlefords region also saw an increase in sales, which rose 8.3 per cent to 39
in July and 2.7 per cent to 225 year-to-date. Dollar volume fell 19 per cent to $7.3
million from last July’s $9 million, and 14.4 per cent to $43.4 million year-to-date.

However, listings fell 12.6 per cent to 111 in July, and are down 10 per cent to 786
year-to-date. The average sales price is down seven per cent this year to $201,053.

Active listings are also down in The Battlefords by 11 per cent to 207, and “sales are
up over last year, so that’s a positive sign,” Yochim said.