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Is the 2016 Real Estate Market Really That Bad?
There is still business to be had for the Saskatoon Real Estate Market!
Yes the economy is declining. Yes the ‘boom’ may be on hold. Yes of course all economic markets have softened a bit. But NO the real estate market for 2016 is not that bad—there is still business to be had!
According to the MLS System Residential Statistical Summary release by SRAR, for area Saskatoon S1-5:
- # of MLS Sales in Jan 2015: 178
- # of MLS Sales in Jan 2016: 174
That is only a decrease of 4 homes for this year compared to the same time last year or a 2% decrease. Don’t let people fool you, the real estate market is not in a horrible state—houses are still selling.
That being said, with all economic downturns, the market will soften a bit.This can be seen in the Saskatoon Region S6-9 areas, where:
- # of MLS Sales in Jan 2015: 57
- # of MLS Sales in Jan 2016: 39
Again, the market is still there. Houses are selling, but you see these more rural markets softening.
Saskatoon Homes Sold for 2016
Real Estate Stats for Jan 2016 (Area S1-5)
Real Estate Stats for Jan 2016 (Area S6-9)
2016 Average Selling Price in Saskatoon Real Estate
Here again you see a slight softening for MLS Listings in the S1-S5 area. However for S6-S9 areas, though there were less homes sold in Jan 2016 than Jan 2015, the average selling price of real estate in this area has increased.
So, don’t worry Saskatoon! Yes, it is inevitable that with an economy like ours right now, there will be some effects on all markets. But rest assured, the 2016 real estate market is not that bad!
