August Housing Market Review

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Saskatoon’s real estate market continues to see many adjustments.

In August, unit sales were consistent with last year’s numbers but year to date we are still down 3%. So far this year, the sales dollar volume has seen a 7% reduction over last year. We continue to see a decline in the amount of unit’s being listed by 11% year to date, which has actually helped keep inventory levels reasonable. All in all, as of September 1, 2018 the average sale price in Saskatoon has seen a 4% decline this year.

The Highlights:

On a positive note, a new school year has begun and fall is typically one of the best times to buy or sell Real Estate.
Buyers are actively looking and this will increase in the coming weeks with everyone getting back to their routines. By saying that, we also see a lack of well priced homes and not much consistency in pricing across the board.
Many homes sellers and agents are still having a hard time adjusting to the current market and economy. Homes that are priced well and when presented properly are still selling quickly.
If you are considering moving, this might be the time. The next couple months will bring many new and used homes to the market. Even with the recent adjustments to market value, you are still buying and selling in the same real estate market.

The Low Lights:

However, you have to remember the market is very different than it was 5 years ago. The Saskatchewan is also very different than it was 5 years and it’s imperative to remember this when selling your home.
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.
As always, if you need help buying or selling our team is here to help!
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