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RECORD BREAKING SALES IN MARCH

Sales were up 108.8% in Saskatoon (going from 273 to 570) in March, 2021. Sales in Saskatoon were 72.9% above the 5-year average. Year-to-Date (YTD) sales in Saskatoon rose 66.2% over last year (increasing from 722 to 1,200)

Sales volume was up 118.0% in Saskatoon, going from $94.7M to $206.5M in 2021 (82.4% above the 5-year average, and 76.7% above the 10-year average). YTD sales volume in Saskatoon was $427.8M (an increase of 78.4% from last year), In Saskatoon, the number of new listings in March 2021 rose 53.8%, going from 602 to 926 (23.3% above the 5-year average). YTD new listings rose 23.4% (going from 547 to 675).

Active listings fell 12.0% in Saskatoon (down from 1,454 to 1,279). Inventory in Saskatoon stood at 2.2 months (which is 57.9% below the level last year and 53.5% below the 5-year average), while the sales to listing ratio was 61.6%, suggesting that market conditions favour sellers. Homes in Saskatoon stayed on the market an average of 36 days in March, down 34.5% from 55 days last year (but below the 5-year average of 52 days).

The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—varied across different centres in the region. Saskatoon saw the price of the benchmark composite home rise 8.2% year-over-year, going from $290,500 to $314,300.


Info provided by SRA

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Sales in Saskatoon were up 53.0%, going from 230 in February 2020 to 352 in February 2021, and up 59.9% in the overall region, going from 314 to 502. In Saskatoon, sales were 42.7% above the 5-year average (and 35.1% above the 10-year average), while in the larger region, sales were 50% above the 5-year average (and 43.1% above the 10-year average). Year-to-Date (YTD) sales in Saskatoon rose 40.3% over last year, increasing from 449 to 630, while YTD sales in the larger region rose 43.4%, going from 604 to 866. Sales volume was up 69.0% in the city, going from $73.7M to $124.4M in 2021 (49.6% above the 5-year average, and 42.2% above the 10-year average). YTD sales volume in the city was $221.3M, an increase of 52.5% from last year. In the region, sales volume was up 57.4%, going from $183.7M to $289.1M (57.9% above the 5-year average and 51.3% above the 10-year average). YTD sales volume increased 57.4% in the region, rising from $183.7M in 2020 to $289.1M in 2021.

In Saskatoon, the number of new listings in February 2021 rose 15.8%, going from 468 to 542 (3.3% above the 5-year average and 5.0% below the 10-year average), while in the region, new listings rose 6.1% from 685 last year to 727 this year (3.5% below the 5-year average and 10.4% below the 10-year average). YTD new listings in the city rose 5.8%, going from 1,039 to 1,099, while in the larger region, the number of new listings to date rose 0.5%, going from 1,496 to 1,504. Active listings fell 21.6% in Saskatoon (down from 1,392 to 1,091) and fell 28.7% in the region (down from 2,618 to 1,867).

Inventory in Saskatoon stood at 3.1 months (which is 48.8% below the level last year and 50.8% below the 5-year average), while the sales to listing ratio was 64.9%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 3.7 months (which is 55.4% below the level last year and 55.6% below the 5-year average), while the sales to listing ratio was 69.1%, suggesting that market conditions favour sellers. Homes in Saskatoon stayed on the market an average of 43 days in February—down 40.3% from 72 days last year (but below the 5-year average of 56 days and below the 10-year average of 51 days).

Homes in the region stayed on the market longer than homes in the city at 53 days on average in 2021, but also down from an average of 81 days last year (and 18.2% below the 5-year average). In Saskatoon, the MLS® Home Price Index (HPI)—a more accurate measure of house price trends—was up 10.1%, going from $299,800 to $330,100. 

- Info provided by SRA 

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Sales in Saskatoon were up 26.9% from 219 in January 2020 to 278 in January 2021, and up 25.5% in the overall region, going from 290 to 364. In Saskatoon, sales were 28.2% above the 5-year average, while in the larger region, sales were 24.1% above the 5-year average. Volume was up 35.6% in Saskatoon, going from $71.5M to $96.9M in 2021.

In January the number of sales in Saskatoon fell 2.5%, going from 571 to 557 (7.9% below the 5-year average and 10.6% below the 10-year average), while in the region, new listings fell 4.2% from 811 last year to 777 this year (9.3% below the 5-year average and 11.4% below the 10-year average). Active listings fell 24.5% in Saskatoon (down from 1,373 to 1,037) and fell 28.0% in the region. Saskatoon inventory stood at 3.7 months which is 40.5% below the level last year and 45.0% below the 5-year average, while the sales to listing ratio was 49.9%, suggesting balanced market conditions. Inventory in the larger region stood at 5.1 months (which is 42.7% below the level last year and 42.1% below the 5-year average), while the sales to listing ratio was 46.8%, suggesting balanced market conditions.

Homes in Saskatoon stayed on the market an average of 55 days in January - down 14.1% from 64 days last year. Homes in the region stayed on the market longer than homes in the city at 63 days on average in 2021, but also down from an average of 73 days last year (and 11.3% below the 5-year average). In Saskatoon, the MLS® Home Price Index was up 4.7% year-over-year, going from $305,800 to $320,300.

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Sales in Saskatoon were up 35.0%, going from 203 in December 2019 to 274 in December 2020, and up 41.5% in the overall region, going from 258 to 365. In Saskatoon, sales were 32.1% above the 5-year average (and 33.5% above the 10-year average), while in the larger region, sales were 33.8% above the 5-year average (and 32.3% above the 10-year average).

Year-to-Date (YTD) sales in Saskatoon rose 18.2% over last year, increasing from 3,614 to 4,272, while YTD sales in the larger region rose 23.0%, going from 4,833 to 5,945. Sales volume was up 39.6% in the city, going from $67.8M to $94.6M in 2020 (34.5% above the 5-year average, and 35.0% above the 10-year average). YTD sales volume in the city was $1,471.2M, an increase of 22.8% from last year. In the region, sales volume was up 28.4%, going from $1,523.0M to $1,955.5M (34.5% above the 5-year average and 33.5% above the 10-year average). YTD sales volume increased 28.4% in the region, rising from $1,523.0M in 2019 to $1,955.5M in 2020.

In Saskatoon, the number of new listings in December 2020 rose 14.9%, going from 302 to 347 (3.6% above the 5-year average and 5.9% above the 10-year average), while in the region, new listings rose 10.6% from 435 last year to 481 this year (1.4% below the 5-year average and 2.6% above the 10-year average). YTD new listings in the city fell 3.0%, going from 7,745 to 7,514, while in the larger region, the number of new listings to date fell 5.7%, going from 11,309 to 10,660. Active listings fell 24.0% in Saskatoon (down from 1,329 to 1,010) and fell 27.9% in the region (down from 2,538 to 1,831). Inventory in Saskatoon stood at 3.7 months (which is 43.7% below the level last year and 47.7% below the 5-year average), while the sales to listing ratio was 79.0%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 5.0 months (which is 49.0% below the level last year and 47.7% below the 5-year average), while the sales to listing ratio was 75.9%, suggesting that market conditions favour sellers. Homes in Saskatoon stayed on the market an average of 48 days in December—down 26.2% from 65 days last year (but below the 5-year average of 55 days and below the 10-year average of 52 days).

Homes in the region stayed on the market longer than homes in the city at 57 days on average in 2020, but also down from an average of 67 days last year (and 10.7% below the 5-year average). Median home prices in Saskatoon went from $316,635 to $333,000 (an increase of 5.2%) and were approximately 2.3% above the 5-year and 2.1% above the 10-year average median price. The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—is up 6.4% from $303,100 to $322,400. Year-to-date, the median home price in Saskatoon was $329,846 which is 3.2% above the $319,720 price from the same time last year. Median home prices in the region went from $309,450 to $318,000 (an increase of 2.8%) and were approximately 1.3% above the 5-year and 1.5% above the 10-year average median price. Year-to-date, the median home price in the region was $313,956 which is 3.8% above the $302,462 price from the same time last year.

-Stats and info provided by SRA January 2021 Media Release

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The month of July saw a significant increase of over 25% in the year-over-year Multiple Listing Service® (MLS®) sales activity with a total of 390 unit sales in the month. This compares with 310 transactions in July of 2017. Total MLS® transactions for Saskatoon year to date was down 3.3% with 2,082 home sales compared to 2,152 to the end of July 2017. “Although one month does not constitute a trend, it is very encouraging to see such a significant increase in activity during a month when many buyers typically leave town on vacation” comments Jason Yochim, CEO with the Saskatoon Region Association of REALTORS®.

Other positive indicators are a decline in the number of new MLS® listings coming on to the market. A total of 710 new MLS® listings in July represented a decrease of 10% over last year and well below the five year average of 830 listings. Fewer new listings combined with an increase in sales reduced the number of active listings from 2,109 in June to 2,048 at the end of July.

The five year average for active MLS® listings is 1,977 units. “Lower inventory levels will help move the market from a buyer’s market towards balance and stabilize home prices.” adds Yochim. MLS® sales below $200,000 totaled 57 transactions in July, 55% higher than July of 2017, while year to date sales increased by 26% with 307 transactions. Homes that sold between $300-400,000 on the MLS® in July showed an increase of 27% over the previous July while year to date the number of sales in this price range totaled 1,229, a decline of 5%. Home sales in excess of $400,000 totaled 540 transactions year to date, a decline of 12% over the previous year. The Home Price Index (HPI) Value for single family residential home sales in Saskatoon took a slight decrease in July of 0.1% to $315,400 compared to $315,800 at the end of June. The HPI measures the change in value over time for a typical single family home with a standard set of attributes. This rate of change reports similar to the Consumer Price Index and is the most accurate indicator of home pricing. The HPI value for townhouse style residences continued on its upward trend, increasing by 1.2% for the month to $234,400. For more information on HPI go to saskatoonrealtors.ca.

Year-to-date, the average sale price was $334,676, a 4.1% decrease from the same period last year. Average prices can be misleading as outlier sales can skew the average sale value one way or the other over a short period of time. This is why the median price of HPI value is a better indicator of the market. Last month, the average home in Saskatoon took 49 days to sell in Saskatoon last month. The five year average for days to sell in the month of July is 48 days. REALTORS® 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®.

For further information, please contact: Jason Yochim CAE, CRAE Chief Executive Officer – Saskatoon Region Association of REALTORS® jason@srar.ca 306-343-3444

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