July 2019 Real Estate Review

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Saskatoon’s July 2019 real estate market see’s a slight decline.

 

The July 2019 Saskatoon Real Estate Market:

The dollar volume decreased almost 2% compared to last year at this time but year to date it is up 6%. This number can be misinterpreted by not realizing we had a few more million dollar properties sell compared to last year. Units being listed saw an increase of 5.5% over last July and year to date a decline of 3.2%.

 

Average Sale Prices:

Even though less homes are hitting the market compared to last year, if inventory levels continue to rise, this will effect what market value is. The unit sales are on par with last July and year to date up 7%. Average sale price saw a decline of 1.7% over last July and and year to date down .9%. All in all, we do see a little more stimulation in the market but only because of the Bank’s reducing interest rate by almost 1%.

What’s Next:

Late summer and early fall are always a strong period for the year in real estate. We will continue to see new inventory hit the market in the coming months. By saying that, the buyers activity might be a touch slower than usual. The federal election is around the corner and many people are uncertain of what the future will bring. Past history shows us that each time we have an election, either provincial or federal the market slows down.

How Can We Help?

Today might not be the best time to buy or sell for you. Everyone’s needs in a property are unique. Our job is not only to buy or sell your home. It’s to educate you on the current market, give you the right game plan and steps to do so.
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!