The latest market stats update from The Saskatchewan Realtor Association.

We are currently experiencing extremely low inventory levels with equally low-interest rates. This is a win-win for both buyers and sellers. Buyers when they find the right house can secure mortgages at all-time low rates, this has allowed many people to make that upgrade they have been looking to do for a while.

Whereas Sellers are in a position where if a house is priced right they could see favorable offers in a short amount of time and some cases multiple offers.

The price of homes in Yorkton have dropped slightly, there could be the potential (if inventory remains low) and interest is high, we may see a slight increase in property values.

Sales in Yorkton were up 20.0%, going from 10 in December 2019 to 12 in December 2020. In Yorkton, sales were 11.1% above the 5-year average (and 4.8% below the 10-year average). Year-to-Date (YTD) sales in Yorkton rose 31.4% over last year, increasing from 191 to 251. 

In Yorkton, the number of new listings in December 2020 fell 30.8%, going from 13 to 9 (41.6% below the 5-year average and 44.8% below the 10-year average). YTD new listings in the city fell 11.7%, going from 444 to 392. Active listings fell 37.6% in Yorkton.

Inventory in Yorkton stood at 8.2 months (which is 48.0% below the level last year and 35.3% below the 5-year average), while the sales to listing ratio were 133.3%, suggesting that market conditions favor sellers.

Homes in Yorkton stayed on the market an average of 86 days —down 51.7% from 176 days last year (below the 5-year average of 104 days and below the 10-year average of 95 days).

Median home prices in Yorkton went from $243,900 to $175,000 (a decrease of 28.2%) and were approximately 15.3% below the 5-year and 19.4% below the 10-year average median price. Year-to-date, the median home price in Yorkton was $205,062 which is 5.3% below the $216,544 price from the same time last year.

Categorised in: A Word From Our Broker

This post was written by teamcore