Home sales in the market surrounding Saskatoon showed a significant bump in activity in November with 71 transactions, or a 22% increase from November 2016. Of these sales, 34 occurred in the cities of Martensville and Warman in November, compared to 26 last November. Inventory levels also continue to be elevated in the areas and cities in the Saskatoon region where there was 926 available properties for sale at the end of November.
The number of active residential listings that were on the market at the end of November was 1,826, 8% higher than last year. The number of new listings added to the market in November was 583 compared to 652 in the same month last year. The sales to listing ratio compares the number of sales for the month, relative to the number of new listings. The sales to listing ratio for Saskatoon in November was 44.4%.
The average price continued to decline. The MLS® Composite Home Price Index (HPI) Benchmark Price continued its steady decline for several months, down by 4.05% from a year ago. The Composite HPI measures the rate of change in a benchmark price for a typical home and is the most accurate indicator of pricing direction in a market..
The Saskatoon Region Association of REALTORS® has a membership of just over 600 licensed and knowledgeable REALTORS® who can provide sound market advice. REALTORS® also subscribe to a strict code of ethics and are dedicated to developing professional standards and continuing education in the real estate profession.
Chief Executive Officer