June is here and it's starting to feel like summer! I hope you are enjoying the nice weather we have been having. I would like to give you an update on the current real estate market from the month of May.

At the end of May, there was a total of 1,066 active listings (compared to 1,190 this time last year), with 690 being single-family homes, 137 townhouses, and 239 condominium-style homes. Inventory in Saskatoon has continued to stay low and is slightly lower this year as opposed to last year. Overall, there have been 538 sold properties in the month of May, compared to 537 sold properties at this time last year. The supply is lower this year as opposed to last year, and the number of sales is relatively the same.

The average sale price for single-family homes was $464,926 (compared to $439,197 last year), townhouses were $316,552 (compared to $302,884 last year), and condominiums were $206,809 (compared to $239,377 last year). As you can see, the average prices of single-family homes and townhouses have increased in comparison to last year, whereas the price of condominiums has slightly dropped. These slight decreases are likely a result of the increase in interest rates in the past year. The increase has slightly dropped the demand and prices of properties compared to the past year. However, there is still very high demand and low inventory within the market, so we have continued to see a booming real estate market. 

Below are some visual statistics of this past month's market. 

If you are looking to buy or sell or would like more information on the current market, give me a call today.