April Real Estate Statistics Saskatoon:
April's numbers have shown some major signs of improvement. After multiple months of decreasing sales, Saskatoon finally saw an increase of 7% in April. Year to date we are still below sales from last year but things are looking positive for the coming months.
Its a good thing we have seen a steady decline of the number of new listings coming to the market, this has helped keep inventory levels down especially for single family homes. Buyer's activity levels have definitely picked up in the last month but budgets are tighter and they are doing their due-diligence before purchasing. We are still seeing the direct results of recent adjustments in price and the mortgage rule changes.
As per usual entry level homes under $400,000 are still the hottest part of our market and are selling very quickly. Condo's and townhouses still have an excess of listings and these prices are still subject to change.
Acreages have also seen some major adjustments. With over development in some RM's this has created an excess of listings. Most buyers are looking for a mature lot, well treed and fully developed. We are seeing the Acreages without these features taking the biggest hit in the last couple years.
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 please do not hesitate to contact us at any time.
Gregg Bamford and Ryan Bamford