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%.