A slow Saskatoon housing market is affecting the number of homes being listed for sale, continuing a trend seen for most of the year.
There were 2,019 active listings during August, down eight per cent from a year ago, with sales on par compared to a year ago.
It’s the seventh straight month listings have declined, which are off 11 per cent for the year compared to the first eight months of 2017.
“In a slower market, one typically sees fewer speculative sellers than in a hot market,” said Jason Yochim, the CEO of the Saskatoon Region Association of Realtors.
Sales for August totaled 329, on par with 2017 but down slightly from the five-year average of 352.
The price of a single family home increased slightly in August to $312,200, reversing a trend of sliding prices over the past six months, but still off 1.1 per cent from a year ago.
Townhouse and apartment style condominium prices continue to drop.
The value of a townhouse declined to $225,200, down 3.9 per cent from July and off 15.5 per cent from ten years ago, when the value was $266,600.
Apartment style condos also continue a 10-year drop in value, from $223,000 in 2008 to $174,100 in August 2018, a drop of 21.9 per cent.
It took an average of 52 days to sell a home listed on the market.
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