Henry Moulin ABR, CRES

345 4th Avenue South #210 Saskatoon, SK S7K 1N3 |
306-221-9221 | henry@saskatoonrealestate.com

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Housing Sales Up Over January 2018

January home sales in Saskatoon are off to a positive start in 2018. The number of transactions that occurred in Saskatoon was 203 units which represents an 11% 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 of 10.5% to $90,673,143 representing the highest dollar volume for January since 2014. Sales in the region surrounding Saskatoon, which includes the cities of Warman and Martensville showed a 27.5% increase with 65 transactions and an 11.7% increase in dollar volume at $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 with the Saskatoon Region Association of REALTORS® (SRAR) “It is good to see inventory levels shrinking as well which will help with upward pressure on pricing in time.” he adds.

The average and median home price in Saskatoon in January also increased. The average sale price for a home in Saskatoon was $344,771, up 1% from last January, while the median price increased by 4.1% 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 $1M increased by 45% 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 multi-family sales which helps to absorb inventory in that sector of the market.

The Home Price Index (HPI) composite benchmark value declined by 4.1% 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 the value was $317,600. “If inventory levels continue to decline due to absorption and fewer properties being listed, home prices should expect to see some increase 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 4% reduction from last year. This was aided by the increase in sales and a 14% decline in the number of new listings for January.

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Friday, January 26th, 2018

U of S Huskies Women’s Hockey VS UBC Thunderbirds

Rutherford Rink – 69 Campus Drive

Time: 7:00 pm

Price: Adults - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

U of S Huskies Volleyball VS UBC Okanagan Heat

Physical Activity Complex – 87 Campus Drive

Time: Women – 6:00pm, Men – 8:00 pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

Saskatoon Blades VS Edmonton Oil Kings

SaskTel Centre – 101-3515 Thatcher Ave

Time: 7:05 pm

Price: $31.00-31.00

Website: www.saskatoonblades.com

 

Robbie Burns Night

German Cultural Centre – 160 Cartwright St E

Time: 6:00 pm – 1:00 am

Price: $18.00

Website: saskgerman.com

 

Saturday, January 27th, 2018

U of S Huskies Women’s Hockey VS UBC Thunderbirds

Rutherford Rink – 69 Campus Drive

Time: 7:00 pm

Price: Adults - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

U of S Huskies Volleyball VS UBC Okanagan Heat

Physical Activity Complex – 87 Campus Drive

Time: Women – 6:00pm, Men – 8:00 pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

Saskatoon Blades VS Prince George Cougars

SaskTel Centre – 101-3515 Thatcher Ave

Time: 7:05 pm

Price: $31.00-31.00

Website: www.saskatoonblades.com

 

Gone Wild for Wildlife

German Cultural Centre – 160 Cartwright St E

Time: 10:00 am – 5:00 pm

Price: $5.00 per person, or $20.00 for Family

Website: www.wrsos.org

 

Sunday, January 28th, 2018

Madd Canada Information Session

Cosmo Civic Centre – 3130 Laurier Drive

Time: 2:00 pm

Price: Free

Website: madd.ca

 

Cross Country Snow Band

German Cultural Centre – 160 Cartwright St E

Time: 6:00 pm – 1:00 am

Price: $30.00

Website: saskgerman.com

 

Open House

61 Malcolm Place

Time: 1:30-3:00 pm

Realtor: Henry Moulin

 

Open House

#318-928 Heritage View

Time: 1:30 – 3:00pm

Realtor: Susan Hunchuk

Ongoing

January 26th – 28th, 2018

2018 Winter National Diving Championships

Shaw Centre – 122 Bowlt Crescent

Time: 9:00 am – 5:00 pm

Price: Free

Website: www.diving.ca

 

January 27th – February 4th, 2018

Nutrien Wintershines Festival

Saskatoon Farmers Market – 414 Ave B South

Price: Free

Website: nutrienwintershines.ca/

 

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Friday, January 5th, 2018

U of S Huskies Women’s Hockey VS Lethbridge Pronghorns

Rutherford Rink – 69 Campus Drive

Time: 8:00 pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

U of S Huskies Volleyball VS Regina Cougars

Physical Activity Complex – 87 Campus Drive

Time: Women – 6:00pm, Men – 8:00pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

Saskatoon Blades VS Red Deer Rebels

SaskTel Centre – 101-3515 Thatcher Ave

Time: 7:05 pm

Price: $19.00 - $31.00

Website: www.saskatoonblades.com

 

Saturday, January 6th, 2018

U of S Huskies Women’s Hockey VS Lethbridge Pronghorns

Rutherford Rink – 69 Campus Drive

Time: 8:00 pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

U of S Huskies Volleyball VS Regina Cougars

Physical Activity Complex – 87 Campus Drive

Time: Women – 6:00pm, Men – 8:00pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

Saskatoon Blades VS Kootenay Ice

SaskTel Centre – 101-3515 Thatcher Ave

Time: 7:05 pm

Price: $19.00 - $31.00

Website: www.saskatoonblades.com

 

Sunday, January 7th, 2018

Ukrainian Christmas Buffet

German Cultural Centre – 160 Cartwright St E

Time: 4:00 – 9:00pm

Price: Adult - $27.95, Member - $24.95, Child (Aged 3-12) $12.00

Website: saskgerman.com

 

Monday, January 8th, 2018

Going Organic – What Does It Take?

Saskatoon Prairieland Land Park – 503 Ruth St W

Time: 8:30am – 12:30pm

Price: $50.00-$70.00

Website: saskorganics.org/event/going-organic-take/

 

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Positive Start to 2017 Home Sales

Home sales in January were cause for optimism for the year ahead with a 6% increase year over year. Home sales of 185 units last month represented the highest January total since 2014, the five-year average for January is 195. Another positive indicator is the number of homes available for sale. At the end of January, there was a combined total of 1,592 homes for sale in the Saskatoon market, representing the second lowest monthly total in almost two years. The lowest inventory level was December of 2016 with a total of 1,443 properties on the market. “An increase in sales in a typically quiet month is very encouraging” comments Jason Yochim, CEO of the Saskatoon Region Association of REALTORS® “especially in the wake of the tougher mortgage qualifications introduced last October.”

At current inventory levels, anticipating no increase in demand and no new properties listed for sale, it would take over eight months to liquidate the current inventory of properties. The five-year average for available inventory in the Saskatoon market is just under five months. The “sales to listing ratio” is an indicator of whether we are in a buyers or sellers’ market. It is determined by dividing the number of sales by the number of new listings for a period of time. When this ratio is at 50%, the market is considered balance. The last couple of years has favored buyers in the marketplace with an average sales to listing ratio of 40%. January typically has an uptake of listing activity and quieter sales activity which is reflected in a sales to listing ratio at 26%; the five-year average is 30%.

Homes priced below $400,000 saw a much-needed increase in activity compared to last January with 143 sales between $200,000 and $400,000, a 20% increase year over year. The average sale price for January of $341,800 represented a 4% decrease compared to last year. In 2016 a steady number of sales over $750,000 helped stabilize the average price in spite of a 5% decline in sales. This emphasizes that using an average to determine the true market picture is easily misleading. The median price for last month was $318,500 which was the lowest median price in almost five years. A more reliable indicator of the market is the MLS® Home Price Index® (HPI). It is considered to be the most accurate determinant of where a real estate market is trending. The HPI composite benchmark price has also been trending downward, although very slightly for several months. 

In January, on average it takes 54 days to sell a home in Saskatoon which is consistent with the five-year average of 51 days. This compares to 45 days which is the average of the past 5 years. “In any market, a home that is priced to current market conditions should sell in even less time, often within a week or two.” comments Yochim. “Buyers are well educated on the market and are not fooled by optimistic sellers. However, they are willing to pay market price for the right home in any market. For homes that are selling, the sale prices are being realized within 97% of the asking price.”

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Phone: 306-221-9221

345 4th Avenue South #210

Saskatoon, SK S7K 1N3

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