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Saskatoon Real Estate Market Update: July 2016
Summer has arrived in Saskatchewan. Other than a few rain showers here and there over the past week I would say we’ve been treated to a warmer, sunnier than normal June and July so far.
The real estate market in June continued to trend downwards, but this was expected. Home sales for June were down again, and year-to-date numbers show a decline of 8.2% in 2016 compared to the first half of 2015. This continues to keep inventory levels over 2,000 units, and at the current rate of sales it would take just over five months to liquidate the active listings.
For rural residential and communities surrounding Saskatoon, sales year to date was 514 for the first half of 2016 which is a decrease of 14.8% for the same period last year. Also, the number of active listings is down 3.2% from last year.
Taking a look at Martensville and Warman, the combined total of active listings at the end of June was 343, down from 379 in June of 2015. One number that is a bit of an anomaly is the number of sales in June. Sales in June 2016 were 55, a 10% increase from June of 2015.
These numbers continue to show the importance of pricing and timing when selling your home. Let my years of experience and knowledge of the current housing trends help you get the right price when you sell your home.
