Housing Stats June 2017:. Residential properties – 2162
. Single family – 1321
. Condominiums – 841
Saskatoon June Housing Market:As school is out and families are heading on vacation we are currently seeing a surplus of listings on the market. This has been from the result of the correction in the market over the past 2-3 years and the market dropping 8-10% on average on most homes. A lot of properties sitting on the market are over priced and this is why they are not selling. Most properties bought in the last 5 years are taking a loss and this is why they’re trying to list above the current market value.
The positive thing is that if properties are priced accordingly they’re selling within the first month and because of this I don’t believe we are sitting in the buyers market like most people are advertising. I believe the market has flattened out and these prices are going to stick.
July and August have traditionally been a favourable time for families to buy so they can move in before the school year starts and they can register for sports teams.
If June is a indicator we are going to have a very active summer with a lot of properties being bought and sold.
As always, if you need help buying or selling your home please don’t hesitate to contact us at any time.