The Saskatoon residential housing market finished off on a positive note with yet another strong month of sales in December.
In the city of Saskatoon, there were 203 sales in 2019, up 24.5 percent from 2018 where 163 sales were recorded. Sales volume also increased by 8.3 percent from $55.2 million in 2018 to $67.8 million despite a slight decrease in the average home price of 1.4 percent from $338,471 to $333,857.
The region also saw increases over last year with 49 sales up from 43 – an increase of 14 percent. Sales volume rose 10.4 percent over last year from $13.6 million to $15 million, while the average price fell 3.2 percent to $295,743 from $307,764.
While sales increased, the number of listings in the city decreased 2.9 percent from 311 last December to 302 in 2019, bringing the sale to listings ratio to 67 – an indicator of a market slightly favouring sellers. Active listings have also been steadily declining year over year with 1,713 active listings at the end of December, down 5.5 percent from 1,813 listings a year ago and 4.6 percent fewer than the five year average.
The area surrounding Saskatoon, which includes Warman, Martensville and Dalmeny, saw a significant increase in listings, up 37.4 percent with 136 last month over the 99 at the same time in 2018. The region is seeing an opposite effect from the city in the sale to listings ratio, which at 36, tends to suggest a trend towards a buyers’ market.
“It’s great to end the year with strong sales in all regions,” says Jason Yochim, CEO of the Saskatchewan REALTORS® Association (SRA). “We are still well below 5 – and 10 – year averages in sales, listings and dollar volume, but things are looking positive and we hope to see trends continue in that direction.”
As the year comes to a close, the numbers seen in December reflect the overall trend for 2019. Saskatoon listings in 2019 totaled 7,745, down 2.64 percent from 7,955 in 2018, while the region saw very little change from 2,945 last year to 2939 at December 31, 2019.
Sales were up in the city in 2019 from 3,325 to 3,604 – an increase of 8.3 percent. The region saw a slight decrease of 3.75 percent from 986 to 949.
Total sales volume for 2019 in the city saw a 7.8 percent increase from $1.1 billion in 2018 to $1.2 billion. The region outside of Saskatoon, however, saw 2019’s $280 million down 7.5 percent from $303 million in 2018.
See full details for Saskatoon here: Saskatoon City and Region
The Prince Albert region saw strong sales in December, with a 54 percent increase of 20 sales over last year’s 13. The city also saw increases over 2018, with sales up 50 percent from 10 to 15.
Sales dollar volume also increased – 56.4 percent in the region from $269,000 in December 2018 to $1.5 million last month, and up 9.7 percent in the city of Prince Albert from $2.2 million to $2.4 million.
The 42 listings in the region remained very similar to last year – down only 1 listing from 2018. In the city however, listings increased 38 percent from 21 last year to 29. Listing to sales ratio remains near balance in both the city (52) and the region (48).
For the year, the region saw sales go up 4.8 percent to 520 from 496 with total sales volume up 8.6 percent from $39 million to $42.4 million. The city, however, saw sales dip slightly, with a 1.8 percent decrease from 330 to 324. Total sales volume also decreased 6.5 percent from $76.4 million in 2018 to $71.4 million in 2019.
For December, the average price dipped significantly in Prince Albert, down 26.9 percent to $161,900, while the region was up slightly, increasing 1.7 percent to $194,275. The overall average home price for 2019 was $220,844 in the city and $216,492 outside of Prince Albert.
See full details for Prince Albert here: Prince Albert City and Region
The region surrounding North Battleford also saw strong sales in December, up 233 percent to 10 sales in 2019 compared to only 3 at the same time last year. Strong sales combined with a 76.8% increase in average prices from $75,444 to $133,190 resulted in a 489 percent increase in total sales volume for the month of $1.3 million, up from $226,000 last year.
The city, however, saw a decrease of 14.3 percent falling from 7 to 6 sales in December. The decline was offset by increased average prices of 20.5 percent, driving homes from $176,357 to $212,500. Total dollar volume was up 3.3 percent from $1,234,500 to $1,275,000.
Last month, listings were up 5.7 percent in the region from 35 to 37 and up 16.7 percent in the city from 12 to 14. The year finished off with listings up 2.2 percent in the region from 496 to 507, but down 9.4 percent in the city from 479 to 434.
For the year, sales are down 3 percent in North Battleford, with 163 in 2019 compared to 168 in 2018. In the region, sales are up 15.8 percent to 161 from 139 last year. Total dollar volume for the year is down in the city, which saw a 10.4 percent decline from $38.8 million to $34.8 million, while the region saw a 10.9 percent increase from $28.7 million in 2018 to $31.8 million.
See full details for North Battleford here: North Battleford City and Region
“We have seen significant variations in market conditions throughout the different regions in the province, even within the Saskatoon Region Association of REALTORS® (SRAR). It’s a good reminder to work with a REALTOR® who can provide data and explain market trends specific to your location,” adds Yochim. “We look forward to watching these trends for the whole province, now that we are all working together as a single association.” The SRA came into effect on January 1, 2020 when SRAR, the Association of Regina REALTORS® and the Association of Saskatchewan REALTORS® amalgamated.