November brings fewer listings, more sales to housing market

Submitted by the Saskatoon Region Association of Realtors

Sales and listings were remarkably stable in the Battlefords and region in November. New listings came in at 74, down by just two (or three per cent) from 76 in the same month of last year, while sales rose by one (or four per cent) to 27 from 26.

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Even so, the dollar volume rose six per cent to $6.1 million from $5.8 million, as the average sales price rose six per cent to $199,923 from $188,154 in the cities. The price in the region rose nine per cent to $225,122 from $206,000.

Year-to-date, the Battlefords area has experienced a two per cent drop in listings to 1,140, down from 1,166, and a six per cent increase in sales to 367 from 346. Dollar volume has fallen five per cent to $72 million from $76 million.

The Saskatoon housing market continued its 2019 trend toward balance last month, as Realtors listed fewer but sold more homes than in the previous November.

City listings fell 16 per cent to 451 from 534, as sales jumped 20 per cent to 243 from 203. Although the average price was down three per cent, to $333,295 from $343,361, dollar volume rose 16 per cent to $81 million, up from $69.7 million.

Including the surrounding region, new listings were down 12 per cent to 694 from 791, while sales rose eight per cent to 317 from 294 for a dollar volume of $102.3 million, up one per cent from $101.7 million.

In the region alone, including communities such as Warman, Martensville and Dalmeny, new listings fell 11 per cent to 159 from 179, and sales were down nine per cent to 58 from 64. However, the average sales price rose four per cent to $314,650, up from $301,490, for a dollar volume drop of five per cent to $18.2 million.

“It’s encouraging to see strength in sales and a slight decline in listings coming to the market, to keep it balanced,” said Jason Yochim, CEO of the Saskatchewan Realtors.

 Year-to-date numbers reflect similar trends. So far this year, and with only one month to go, Saskatoon agents have listed 7,443 homes to the MLS®, down three per cent from 2018’s 7,646, and sold 3,401, up seven per cent from 3,167. Sales are also up from 2017’s 3,286.

The average sales price of $331,457 is statistically the same as last year’s, bringing the dollar volume up seven per cent to $1.1 billion, up from just over $1 billion.

In the region, 900 homes have sold so far in 2019, down five per cent from last year’s 943, and listings

have fallen three per cent to 2,789 from 2,874. Dollar volume is down eight per cent to $265.5 million from $289.8 million. The average price dropped four per cent to $295,141 from $307,352.

At the end of the month, Saskatoon had 1,534 homes on the market, down 11 per cent from 1,716 at the same time last year, while the region had 947 homes, down eight per cent from 1,032.

“It’s healthy for the market to see the number of active listings continue to shrink slightly,” said Yochim. “Two years ago, we were tipping over 2,100 at the high-water mark, so 1,500 is certainly good.”

 In Prince Albert and the surrounding area, the number of new listings dropped 12 per cent in November to 84 from 96, while sales fell five per cent to 42. However, that represents a reduction of only two properties from 44 last year.

Dollar volume was down five per cent to $9.2 million from $9.6 million last month, but year-to-date the volume has risen three per cent to $122.5 million from $119.5 million on the strength of 561 sales, up six per cent from 531 last year.

In the city of Prince Albert, new unit listings increased 26 per cent in November to 48 from 38 while sales were down 29 per cent to 20 from 28. However, year-to-date listings are down eight per cent to 644 from 703 and sales down three per cent to 309 from 320.

Dollar volume fell 32 per cent last month to $4.4 million from $6.5 million; but year-to-date it is down seven per cent to $69 million from $74 million. The average sales price has remained steady in the $223,000 range this year.

cent to $72 million from $76 million.

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