March Market Update in Saskatoon
Inventory levels remain an issue in Saskatoon.
SASKATOON
Inventory levels in Saskatoon remains a significant concern as the city reports supply level nearly 37% long term trends.
As of result of that, over 100 of the sales in March sold for full price or over asking.
March had 582 new listings hit the market, which is down over 20% compared to last year.
Our inventory was 923 properties, out of that, 565 were single family homes.
Now for sales..
397 properties sold in all of Saskatoon.
On Average single family homes were selling for $446,000 & were taking on average 44 days to sell.
Apartments sold on average for $206,000 & were taking 53 days on average to sell.
The months of supply in Saskatoon fell to 2.32 in March, down from 3.50 in February.
Tight conditions in the Saskatoon market are placing upward pressure on home prices & we are expecting this trend to continue as inventory remains an issue.
WARMAN
In March 15 properties sold in Warman.
There was 20 new listings hit the market as total inventory in warman was 60 for all of Warman.
Currently is 4.0 month supply of inventory in Warman for March. 3 sales in March sold for over asking.
Average sale price in Warman for single family homes was $441,000 in March - year to date- average sale price is $418,000
aCREAGES surrounding Saskatoon - YEAR to DATE
Year to date, 15 new acreages have hit the market in Corman Park & there has been 10 acreage sales.
11 New Acreages hit the market in RM of Vanscoy & there was 3 sales.
3 New listings in the Rm of Blucher & 2 acreage sales
2 new listings hit the market in the Rm of Aberdeen & 3 sales year to date.
If you have any questions, please let me know!
JILL BIRD
RE/MAX Saskatoon
306-221-1350
Jill@sellingsaskatoon.com
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