There was a decrease in the amount of homes put on the market this May compared to last May, 9% decrease in fact, which contributes to a total of 13% decrease year to date. A total of 943 properties were listed this past month. We are still above the 5 year average of 1945 with a total listings inventory of 2001. Total homes sales of 364 homes which is down 13% over last May. Year to date 1,345 residential MLS sales. The listing to Sale ratio in May was 39%.
The average sale price year to date in Saskatoon is $334,449 which is down 4% from last year. Not all parts of the market are down. The under $200,000 home price range has had a 30% increase in total sales. the $750,000 to 1 million price range is on track similar to last year. The homes in the 450-500 thousand price range have been the hardest hit with a 17% decrease in total number of sales.
FAQs
How did Saskatoon home listings perform in May compared with last year?
Saskatoon had 943 properties listed in May, which was a 9% decrease from May of the previous year. The decline contributed to a 13% year-to-date decrease in new listings.
How many homes sold in Saskatoon in May, and what happened to the average sale price?
A total of 364 homes sold in May, down 13% from the same month last year. The average sale price year to date was $334,449, a 4% decrease from the previous year.
Did Saskatoon have more homes available than its usual five-year average in May?
Yes. Total listing inventory was 2,001 homes, compared with a five-year average of 1,945. The post does not provide a specific months-of-supply figure or average days on market.
What did May’s Saskatoon market mean for buyers and sellers?
The lower sales volume and higher listing inventory compared with the five-year average gave buyers more choice than a tighter market would. Sellers faced a more competitive environment, with the listing-to-sale ratio at 39%, although conditions varied significantly by price range.
Which Saskatoon price ranges were strongest and weakest in May?
Homes priced under $200,000 had a 30% increase in total sales. The $750,000 to $1 million range was tracking similarly to the previous year, while the $450,000 to $500,000 range experienced the largest decline, with sales down 17%.
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