November Market Stats

Here is the latest market stats update from The Saskatchewan Realtor Association.

All the agents at CORE saw record-breaking sales for the month of November. We continue to maintain all the safety protocols put in place to ensure our buyers and sellers are safe. With the interest rate remaining low, we continue to see buyers and sellers taking advantage of the opportunity to make that first purchase or upgrade to a larger and or newer home.

Yorkton Sales in Yorkton were up 46.2%, going from 13 in November 2019 to 19 in November 2020.

Sales were 10.5% above the 5- year average (and 27.5% above the 10-year average)

Year-to-Date (YTD) sales rose 32.0% over last year, increasing from 181 to 239.

In Yorkton, the number of new listings in November 2020 fell 34.5%, going from 29 to 19 (24.6% below the 5-year average and 36.9% below the 10-year average).

YTD new listings in the city fell 11.1%, going from 431 to 383. Active listings fell 31.4% in Yorkton (down from 172 to 118). Inventory in Yorkton stood at 6.2 months (which is 53.1% below the level last year and 31.4% below the 5-year average), when the sales to listing ratio were 100.0%, suggesting that market conditions favor sellers.

Homes in Yorkton stayed on the market an average of 87 days in November—down 28.7% from 122 days last year (but below the 5-year average of 91 days and below the 10-year average of 90 days).

Median home prices in Yorkton went from $190,000 to $223,000 (an increase of 17.4%) and were approximately 10.7% above the 5-year and 9.9% above the 10-year average median price. Year-to-date, the median home price in Yorkton was $207,795 which is 2.9% below the $214,057 price from the same time last year.

With the Inventory remaining low, sellers are in a position to demand a stronger value for their homes. This will continue to happen until we see the increased number of listings hitting the market in April.

Should you be in the market to purchase a home or looking to sell your current home. CORE Real Estate Inc. Is always available to provide you with the most up-to-date information.

Categorised in: A Word From Our Broker

This post was written by teamcore