February 2019 Month In Review

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Saskatoon Real estate market see’s some signs of improvement in February 2019.

 

The Real Estate Market

The amount of new listing continue to decline by 9% over last year at this time. We will see an increase of new listings and the inventory levels will rise in the coming months as the weather changes. The dollar volume is up 3% over last February but year to date we are down 5%. This is still the result of less high end homes being sold. Unit sales this year are actually on par with last year’s numbers. A lack of inventory in certain price points has made buyers act quicker than in past month.

 

What to expect in the coming months:

Spring is always one of the busiest times of the year to buy and sell Real estate. As always we will see many new listing and buyers ready to act.
Entry level homes will continue to be in high demand and a major driving factor in our market. These values should stay on par with today’s market value. In regards to Townhouse’s and Condominiums, we still have an excess of inventory but are seeing more activity in these areas. These values could still see some adjustments because of the excess supply. Buyers are starting to feel more comfortable with the current market and it seems interest rates should remain steady in the near future. This has helped create more consumer confident’s in the market.

What About Pricing?

Even with all the new market activity, we do not see prices increasing at all. Although, seller’s can expect a more timely sale with less inventory on the market. All in all, when inventory levels are down, it is time to list!

As always, in any market, we can help! When selling your home it is crucial to price at market value and have your home ready to show. The proper de-cluttering, staging, professional photographer and marketing is also a must in our current market to help buyers see value.
If you need help buying or selling our team is here to help!
february 2019