Market activity in Saskatoon has been great this yeaer with a 15% increase in listing activity and 10% sales increase, year to date. The most active of the Saskatoon market, as usual, is the price range below $450,000. May was no exception with 945 new properties being added to the Saskatoon market. Year to date, there have been 3809 homes placed on the MLS®.
A growing trend in Saskatoon is the number of builders' homes that are hitting the MLS® system in an effort to increase exposure over the competition. This appears to be working based on a 36% increase in home sales between $500-750,000 in May.
The average sale price in Saskatoon continues to increase and is now at $353,000 which is a 3% increase over the same period last year. The median sale price is $340,000 in Saskatoon.
There are over 3100 properties currently available for sale in the Saskatoon and surrounding area with about half of these homes within the city limits. The total number of homes sold this year so far is 2528, which is an 11% increase over 2013, year to date. Saskatoon continues to be a balanced market with the sales to listing ration at 52%. The average time to sell a home through the MLS® System in Saskatoon is currently 36 days. Of course, price range, area and marketability have a huge effect on the speed at which a property will sell.