Sales in Saskatoon were up 38.4%, going from 372 in June 2019 to 515 in June 2020, and up 42.7% in the overall region, going from 504 to 719. In Saskatoon, sales were 27.5% above the 5-year average (and 17.7% above the 10-year average), while in the larger region, sales were 29.2% above the 5-year average (and 21.5% above the 10-year average). Year-to-Date (YTD) sales in Saskatoon fell 3.6% over last year, decreasing from 1,842 to 1,776, while YTD sales in the larger region fell 1.0%, going from 2,480 to 2,456.
Sales volume was up 36.1% in the city, going from $126.8M to $172.6M in 2020 (24.6% above the 5-year average, and 15.3% above the 10-year average). YTD sales volume in the city was $601.9M, a decrease of 1.4% from last year. In the region, sales volume was down 0.7%, going from $782.1M to $787.4M (28.0% above the 5-year average and 20.3% above the 10-year average). YTD sales volume increased 0.7% in the region, rising from $782.1M in 2019 to $787.4M in 2020.
In Saskatoon, the number of new listings in June 2020 rose 5.9%, going from 784 to 830 (5.0% below the 5-year average and 2.9% below the 10-year average), while in the region, new listings rose 4.8% from 1,174 last year to 1,230 this year (3.5% below the 5-year average and 1.3% below the 10-year average). YTD new listings in the city fell 11.6%, going from 4,204 to 3,716, while in the larger region, the number of new listings to date fell 13.6%, going from 6,262 to 5,411. Active listings fell 19.6% in Saskatoon (down from 1,971 to 1,585) and fell 19.9% in the region (down from 3,561 to 2,852).
Inventory in Saskatoon stood at 3 (which is 41.9% below the level last year and 40.6% below the 5-year average), while the sales to listing ratio was 62.0%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 4 (which is 43.9% below the level last year and 39.7% below the 5-year average), while the sales to listing ratio was 58.5%, suggesting balanced market conditions.
Homes in Saskatoon stayed on the market an average of 43 days in June—down 12.2% from 49 days last year (but below the 5-year average of 46 days and above the 10-year average of 41 days). Homes in the region stayed on the market longer than homes in the city at 54 days on average in 2020, but also down from an average of 56 days last year (and 1.1% above the 5-year average).
Median home prices in Saskatoon went from $320,000 to $329,900 (an increase of 3.1%) and were approximately 1.0% above the 5-year and 0.7% above the 10-year average median price. The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—is up 0.9% from $306,500 to $309,400. Year-to-date, the median home price in Saskatoon was $326,858 which is 1.3% above the $322,600 price from the same time last year. Median home prices in the region went from $310,000 to $312,500 (an increase of 0.8%) and were approximately 0.5% below the 5-year and 0.8% below the 10-year average median price. Year-to-date, the median home price in the region was $308,171 which is 2.1% above the $301,767 price from the same time last year.
For further information, please contact:
Jason Yochim, Chief Executive Officer
Saskatchewan REALTORS® Association
email@example.com | 306-343-3444