Sales in Saskatoon were up 26.9%, going from 219 in January 2020 to 278 in January 2021, and up 25.5% in the overall region, going from 290 to 364. In Saskatoon, sales were 28.2% above the 5-year average (and 30.1% above the 10-year average), while in the larger region, sales were 24.1% above the 5-year average (and 26.9% above the 10-year average).Sales volume was up 35.6% in the city, going from $71.5M to $96.9M in 2021 (33.7% above the 5-year average, and 33.7% above the 10-year average). In the region, sales volume was up 33.8%, going from $90.2M to $120.7M (29.0% above the 5-year average and 30.6% above the 10-year average).
In Saskatoon, the number of new listings in January 2021 fell 2.5%, going from 571 to 557 (7.9% below the 5-year average and 10.6% below the 10-year average), while in the region, new listings fell 4.2% from 811 last year to 777 this year (9.3% below the 5-year average and 11.4% below the 10-year average). Active listings fell 24.5% in Saskatoon (down from 1,373 to 1,037) and fell 28.0% in the region (down from 2,584 to 1,860).
Inventory in Saskatoon stood at 3.7 months (which is 40.5% below the level last year and 45.0% below the 5-year average), while the sales to listing ratio was 49.9%, suggesting balanced market conditions. Inventory in the larger region stood at 5.1 months (which is 42.7% below the level last year and 42.1% below the 5-year average), while the sales to listing ratio was 46.8%, suggesting balanced market conditions.
Homes in Saskatoon stayed on the market an average of 55 days in January—down 14.1% from 64 days last year (but below the 5-year average of 60 days and above the 10-year average of 55 days). Homes in the region stayed on the market longer than homes in the city at 63 days on average in 2021, but also down from an average of 73 days last year (and 11.3% below the 5-year average).
In Saskatoon, the MLS® Home Price Index (HPI)—which provides a more accurate measure of house price trends—was up 4.7% year-over-year, going from $305,800 to $320,300.
Communication courtesy of Saskatchewan REALTORS® Association
