Henry Moulin ABR, CRES

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

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YTD Home Sales Down 5%

December residential home sales on the Multiple Listing Service® system (MLS® System) in Saskatoon totaled 164 transactions, 20% fewer than December of 2017 which recorded 205 residential sales. The region surrounding Saskatoon had 43 MLS® sales in December of 2018, only one less than the previous December. The total annual number of residential home sales for 2018 in Saskatoon totaled 3,329 units. This is a 5% decline compared to the total number of home transactions for 2017. This represents the fourth straight year of a decline in annual home sales in Saskatoon. By comparison there were 4,417 MLS® sales in 2014, an overall reduction of almost 25%. There was no change in the total annual sales for the surrounding region with 986 residential MLS® transactions.

The total dollar volume recorded for residential MLS® sales in Saskatoon in December was $55.6 Million, down 20% from December 2017. The total dollar volume for the entire year reached $1.108 Billion, 8% lower than 2017. The combined dollar volume for Saskatoon and region for last year was down 4% from 2017 at $1.524 Billion.

Residential MLS® listing totals for the year continued to be lower than previous years. A total of 7,956 residential listings were recorded for Saskatoon on the MLS® System in 2018. This is an 11% reduction from 2017’s total of 8,969, representing over 1,000 fewer new listings. The five-year average for new listings in a calendar year in Saskatoon is 9,081. “Even though overall sales are down, fewer new listings has helped contribute to fewer properties available to buyers in the Saskatoon market.” comments Jason Yochim, CEO of the Saskatoon Region Association of REALTORS® (SRAR). The total number of active listings at the end of the year was 1,487, consistent with the five-year average of 1,480 available properties. The highest level of active properties was in July of 2017 when there were 2,210 active listings in the city of Saskatoon “Available properties will vary depending on neighborhood, price range and style.” cautions Yochim “some price ranges with still have a good supply to choose from while others will not. It’s important to remember that REALTORS® have the greatest access to available property” he adds. REALTORS® work in the market every day, subscribe to a strict code of ethics and are dedicated to developing professional standards and continuing education in the real estate profession. This is not the case for those who sell real estate in the province and who are not members of an association of REALTORS®. 

When it comes to home price trends, the best indicator of what is happening with home prices is the Home Price Index. The Home Price Index establishes attributes for a typical single-family home with a base value in 2005. From that starting point, changes in value are recorded over time to get a better sense of what is happening to pricing and where prices may be trending. The value for the typical single-family home in January of 2005 was $140,400. This value reached its peak in May of 2015 at $329,500. At the end of December, this value is at $307,000, down from $310,900 in November. This value is virtually unchanged from a year ago, however, it has been trending downward since the middle of 2018. For more information on HPI go to contact a member of the SRAR or visit saskatoonrealtors.ca .

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Number of Listings Declining

The total number of new residential listings in Saskatoon on the Multiple Listing Service (MLS®) year to date totaled 7,111. This represents a 12% decline when compared to the same period last year with 8,065 properties listed. The total number of residential listings for Saskatoon and region year to date is 10,929, a 10% decline from last year. The individual month end totals for new listings in 2018 was down each month as well compared to 2017 totals. This decline in new listings has contributed to lower inventory levels for available properties in Saskatoon. At the end of October there was a total of 1,808 active residential properties for sale in Saskatoon and 1,095 in the regional market surrounding Saskatoon. The five-year average for active listings in Saskatoon is 1,806 while the ten-year average is 1,487. “Since 215, the Saskatoon market has experienced higher inventories of active listings, this puts downward pressure on pricing and often upward pressure on the sales to new listing ratio.”  comments Jason Yochim, CEO of the Saskatoon Region Association of REALTORS®. The median price of a home in Saskatoon has declined as well since 2015 as has the average price. The average residential price was $332,000 at the end of October, down 4% from a year ago and $20,000 from two years ago. Although much focus in real estate is on the average price, the average can be misleading and is easily skewed. A better indicator of what is happening with home prices is the Home Price Index. The Home Price Index establishes attributes for a typical single-family home with a base value in 2005. From that starting point, changes in value are recorded over time to get a better sense of what is happening to pricing and where prices are trending. The value for the typical single-family home in January of 2005 was $140,400. This value reached its peak in May of 2015 at $329,500. Currently this value is at $312,600 virtually unchanged from a month earlier. The Benchmark price for a typical Townhouse style property in Saskatoon was $222,900 last month, for apartment style properties, $180,100 in October. For more information on HPI go to saskatoonrealtors.ca.


Year to date, the total number of residential sales on the MLS® system in Saskatoon was 2,964, down 2% from last year. For Saskatoon and region the total number of sales was 4,074, a 1% decline from 2017. Total MLS® sales of 285 in Saskatoon for October was unchanged from the same month last year and but down 9% from October 2016. “It s encouraging to see home sales at a comparable level to last year in spite of economic challenges and the “stress test” changes to financing earlier this year.” Comments Jason Yochim, CEO with the Saskatoon Region Association of REALTORS®. “It would seem that sellers are recognizing the importance of expert advice from our REALTOR® members in pricing to the current market.” he adds.

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Mark your calendar's and get ready to eat! The Taste of Saskatchewan is exactly one week from today! Make sure to come on down to Kiwanis Park in Downtown Saskatoon to enjoy amazing food, drinks and music from noon to night from July 17th - 22nd, 2018.


Click here for the Website.


Click here to check out what is on this years menu.


Click here to jot down what time you need to be there to listen to your favorite music.

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Sunday, June 24th, 2018

Family Fun Day

German Cultural Centre – 160 Cartwright St E

Time: 2:00 – 4:30 pm

Price: Free

Website: www.saskgermancouncil.org/

 

Ongoing

June 10th – 24th, 2018

Saskatoon Pride Festival

Website: saskatoonpride.ca

 

June 22 – July 1st, 2018

Sasktel Saskatchewan Jazz Festival

Website: www.saskjazz.com

 

June 16th – 23rd, 2018

Saskatoon Opera Presents La Boheme

Persephone Theatre – 100 Spadina Cres E

Time: 7:30 pm

Website: www.saskatoonopera.ca/

 

 

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Henry Moulin - Coldwell Banker Signature

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Phone: 306-221-9221

345 4th Avenue South #210

Saskatoon, SK S7K 1N3

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