July Housing Market:
Residential properties – 2199
Single family – 1283
Condominiums – 916
Saskatoon’s July Housing Market update.
Over the last month the Saskatoon Real Estate market has seen a decline in sales compared to last year at this time. The main reason is we continue to see most homes being priced over market value. This directly contributes to the current number of listings and average days on market increasing.
On the positive side, the sales ratio has remained stable at 97% of list price for quite some time. This goes to show that
homes priced at the current market value, staged and have proper representation have been selling in a timely fashion.
Condominiums still have an excess of inventory across Saskatoon and it is a very competitive part of the market.
The condo market is where we consider it to be a buyer’s market with prices still having a chance to go down.
In review, we will continue to see market activity increase with buyers back from vacation and looking to settle in prior to the School year.
As always, if you need help buying or selling your home please don’t hesitate to contact us at any time.