Advertisement

Listings down, sales up as Saskatoon housing market trends toward balance: SRAR

Saskatchewan Realtors Association CEO Jason Yochim said Saskatoon’s housing numbers for November are encouraging.
Saskatchewan Realtors Association CEO Jason Yochim said Saskatoon’s housing numbers for November are encouraging. Tyler Schroeder / Global News

Listings were down but sales up as Saskatoon’s housing market continues to trend towards balance, the association representing realtors in the city said.

The Saskatoon Region Association of Realtors (SRAR) said Wednesday that sales jumped 20 per cent in November compared to a year ago, from 203 to 243.

New listings were off 16 per cent year over year, falling from 534 to 451, while the average price dropped three per cent to $333,295.

READ MORE: Housing sales in Saskatoon rebound slightly in October

Saskatchewan Realtors Association CEO Jason Yochim said the numbers are encouraging.

“It’s encouraging to see strength in sales and a slight decline in listings coming to the market to keep it balanced,” Yochim said.

SRAR said November’s numbers continue a trend it has seen throughout the year.

Story continues below advertisement

Agents have listed 7,443 homes so far in 2019, down three per cent from the previous year, while sales are up seven per cent from 3,167 to 3,401.

READ MORE: 2019 was a ‘tough year’ for Saskatoon’s home construction industry — SRHBA

There were 1,534 homes on the market at the end of November, down 11 per cent from a year ago, which Yochim called “healthy.”

“It’s healthy for the market to see the number of active listings continue to shrink slightly,” Yochim said.

“Two years ago, we were tipping over 2,100 at the high-water mark, so 1,500 is certainly good.”

4 rules when selling a house in Saskatoon
4 rules when selling a house in Saskatoon