Saskatoon Housing Recap for October
Highlights:• National home sales rose 2.4% from September to October.
• Actual (not seasonally adjusted) activity was up 2.0% year-over-year (y-o-y) in October 2016.
• The number of newly listed homes edged up 1.7% from September to October.
• The MLS® Home Price Index (HPI) in October was up 14.6% y-o-y.
• The national average sale price climbed 5.9% y-o-y.
November Housing Stats:The number of homes trading hands via Canadian MLS® Systems rose 2.4 percent month-over-month in October 2016.
Active listings are down and sales have increased in the last couple months.
The good news for those selling is that sellers are realizing 97% of their asking price. Sellers who choose to list too high over the market are finding it difficult to obtain that sale. The closer the asking price is to market the tighter the offer will be to the list price.
Current properties on the marketThere are1088 Single family listing currently on the market.
Apartment style condos and townhouses are at 719.
The vacancy rate for condos on the rental market have increased from 6.5% last year to currently over 10% in Saskatoon.
Number of Condos or townhouses that have sold this year652 Condos/Townhouses priced from $0-$300,000
288 Condos/Townhouses priced from $300,000-$500,000
29 Condos/Townhouses priced from $500,000-$800,000
10 Condos/Townhouses priced from $800,000+
Number of single family homes that have sold this year661 Homes priced from $0-$300,000
1571 Homes priced from $300,000-$500,000
307 Homes priced from $500,000-$800,000
34 Homes priced from $800,000+
In our current market it all comes down to pricing a property right, you want to price it as high as you can without over pricing it. This can be done with the right knowledge of a great right realtor and the right marketing strategy and advertising platform.
If you need help buying or selling your home please contact us at any time.