Spring has sprung and Saskatoon’s real estate market is heating up. The demand for homes remains high in all sectors, and despite a slight increase in prices, low inventory levels have made it a seller’s market.
In April of last year, 461 homes were sold in Saskatoon. This April, 407 homes were sold, indicating a decrease of 11.7% compared to the previous year. However, the average sale price has remained stable, increasing slightly from $365,001 in April 2022 to $366,084 in April 2023, an increase of .3%. Additionally, active listings are down 2.4% this year.
While active listings are only down 2.4% compared to last year, it’s essential to consider the bigger picture. For instance, in April 2019, the year before the pandemic, we had 1974 active listings. This represents a staggering 49.3% decline in active listings over the last four years. It’s clear that we’re in a housing shortage, and demand undoubtedly outweighs supply.
Despite these challenges, the real estate market in Saskatchewan has shown resilience and strength, and we expect nothing less in the years to come. It’s our belief that these market conditions will become the new norm for the foreseeable future.
Selling your home can be an overwhelming experience, and our team understands that. That’s why we’re committed to being with you every step of the way. Our team of experts will collaborate closely with you to develop a winning strategy that caters to your unique needs and helps you achieve your objectives.
Selling Your Home
If you know someone who’s considering selling their home, we’d be honoured to help them too. Our mission is to assist as many people as possible in accomplishing their real estate objectives, and we believe that establishing robust, long-lasting relationships with our clients is the first step.
Thank you for entrusting our team with your real estate needs. We’re always here to help, so don’t hesitate to reach out to us at any time.