“The Saskatchewan real estate market continues to outshine last year. In October 2020, sales were up 38.4%, new listings up 1%, and median sale price up 7.8%. It is important to highlight that inventories are either becoming stagnant or decreasing however the number of active buyers is still high. The numbers prove it… Now is the perfect time to list a property! Across the board, Saskatoon and Prince Albert are exerting strong seller’s markets.”
-Léo & Taylor Morrison
Sales in Saskatoon are on the rise, up 40.5% from October 2019. Sales dollar volume is also increasing, up 56.4% in the city from $96.7M to $151.2M. Listings increased slightly, up 4%. Homes in the city are spending an average of 42 days on MLS. The average home price is $330,000, up 9.1% from last year. Saskatoon is exerting a buyers’ market with a 69% ratio – favouring sellers.
In the Saskatoon Region, sales are also on the rise, up 42.6% compared to October 2019. Sales dollar volume is up 26.2%. Listings are down 2.5%. Homes are spending an average of 50 days on the market. The average home price is $320,000, up 11.3% from last year. The Saskatoon Region has a sales to new listings ratio of 70.1- favouring sellers.
Comparing to October 2019, Prince Albert saw sales up by 5.1%. Sales volume dropped slightly by 0.9%. Listings increased significantly, up 34.8%. The average home price decreased 16% in the city from $250,000 to $210,000 from last year. Homes spent an average of 87 on the market. Prince Albert has a dominating sellers’ market – with 66.1% sales to new listings ratio.
PRINCE ALBERT REGION
In the PA region, sales were up 28.6% compared to October 2019. Total sales volume was up 23.6%. Listings also increased, up 12.1%. Homes in the region stayed on the market longer than homes in the city at 100 days on average in 2020. Average home prices were down 6.4% to $234,000 from last year. Similar to the city, the region is also seeing a dominating sellers market, exerting a 71.6% sales to new listings ratio.
Any questions? Feel free to get in touch with us and we’d be happy to explain it all!
Taylor and Léo