Housing market in Saskatoon cools slightly in July: SRAR

Saskatoon continues to have some of the highest housing prices in Canada according to a Royal LePage survey.
SRAR says the housing market in Saskatoon remains stable and balanced. File / Global News

The housing market cooled slightly in July, but overall sales for the year are the best in the last three years, the Saskatoon Region Association of Realtors (SRAR) reported Tuesday.

SRAR said 390 homes were purchased during the month, on par with a year ago and up from the 310 sold during July 2017.

READ MORE: Signs of stability in Saskatoon’s housing market — SRHBA

Total sales for the year now sit at 2,968, up 4.4 per cent from the same period last year when 2,843 transactions were made to the end of July.

Overall dollar sales were off 1.7 per cent to $129.4 million, with the average price slipping to $331,780.

SRAR CEO Jason Yochim said overall, the market is stable.

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“It’s good to see in the city that while the average price dropped in 2017 and 2018, we’re very close to those values, so it’s levelled a bit,” Yochim said in a release.

“We’ve seen some good growth in Saskatoon in the last quarter. Our sales numbers year-to-date are the highest in three years.”

READ MORE: Housing sales in Saskatoon continue upward trend in June — SRAR

Saskatoon remains a balanced market, SRAR said, with a sales-to-listing ratio of 53 per cent.

“Inventory levels are still declined, and that’s a good sign,” Yochim said.

“The slight decline over the last three years helps us maintain a balanced market.”

Active listings were down 5.7 per cent to 1,932 compared to 2,048 last year, SRAR said.

WATCH (May 2019): Housing report predicts Saskatoon, Regina homes to drop in value

Housing report predicts Saskatoon, Regina homes to drop in value
Housing report predicts Saskatoon, Regina homes to drop in value
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