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Home sales down, prices steady in Saskatoon during October

Home sales in Saskatoon are down 2.0 per cent for the year when compared to the first 10 months of 2017, according to the Saskatoon Region Association of Realtors.
Home sales in Saskatoon are down 2.0 per cent for the year when compared to the first 10 months of 2017, according to the Saskatoon Region Association of Realtors. THE CANADIAN PRESS/Jonathan Hayward

The number of homes sold in Saskatoon during October slid slightly, but prices remained steady according to the Saskatoon Region Association of Realtors (SRAR).

SRAR reported Monday 285 homes were sold during the month, down 0.3 per cent from the same month a year ago.

Sales are also down 2.0 per cent for the year when compared to the first 10 months of 2017, with 2,964 properties changing hands.

READ MORE: PST, interest rates negatively impacting Saskatoon builds: report

The number of new listings is also down, with 7,111 properties listing to the end of October, a drop of 12 per cent for the year.

SRAR CEO Jason Yochim said there is promising news in the numbers.

“It’s encouraging to see home sales at a comparable level to last year in spite of economic challenges and the ‘stress test’ changes to financing earlier this year,” Yochim said in a statement.

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READ MORE: Overbuilding still a concern in Saskatoon’s housing market

Prices have declined from a year ago, according to SRAR, with the benchmark price of a single-family home valued at $312,600, down from its May 2015 peak of $329,500, but relatively unchanged from last month.

Benchmark prices for townhouse and apartment-style condominiums continue to rise, up 1.5 and 2.2 per cent respectively from October to $222,900 and $180,000.

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