Saskatoon’s average selling price down 20K in 2 years

Home prices have continued to fall in Saskatoon with the average selling price down 4% to $332,700 in the year to September 2018.

The decline since 2016 has been around $20,000 but most of that – around $15,000 – has been over the past year.

Saskatoon Region Association of Realtors’ data shows that the benchmark HPI for a single-family home was $312,200 in September, the highest it has been this year and virtually unchanged from August.

The Benchmark price for a typical townhouse style property was $219,700 last month, the lowest point since April 2007 ($205,300). For apartment style properties, the Benchmark $176,200 was the first increase since December 2007 ($190,600).

Sales were similar to a year ago with 268 through the MLS in September 2018 while year-to-date sales were down 5% year-over-year to 2,679.

Active listings in Saskatoon continued to shrink with year-over-year decline of 7%. At the end of September there were 1,944 active listings compared to 2,082 a year ago.

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