January Real Estate Market Report Saskatoon
Sales were down and New Listings were up from December 2021, but the market remains strong.
In a statement made by SRA: "January sales eased over last years levels, but with 230 sales for the month, activity remained consistent with long term trends. At the same time, new listings in the market continued to ease compared to levels we traditionally see this time of year and could be one factor preventing stronger sales in the month. Inventory levels remained exceptionally low for January with 881 units. That is over thirty per cent below longer-term averages and the lowest January levels since 2010.
The limited supply and relatively strong sales kept the months of supply relatively tight at under four months. While prices remained relatively stable compared to where they were at the end of 2021 with a total residential benchmark price of $328,600 in January, levels are nearly six per cent higher than last January."
Sales: 244 New Listings: 430 Inventory: 909 Months of Supply: 3.73
January saw sales decrease by 11.9% from this time last year, new listings decrease by 22.8% from this time last year, and inventory down by 13.8% from this time last year to a 3.73 months of supply.
Here's a look at the January Statistics from the Saskatchewan REALTORS® Association.
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Have a fantastic day,