Summer time where the living is easy and the saskatoon real estate market goes on autopilot the stats this month show at minimum, we're leveling out or worse, a slowdown for five months in a row. Now we've seen an increase to new listings month, over month, over month adding more inventory to the market.
And in fact, from the month of may to june, we've seen a 10% increase of new listings. But interestingly enough sales were down 1%. So you can see that more listings coming onto the market and sales are slowing. Here's an interesting stat, expired listings are up 30%. That's a listing that's been on the market and has failed to sell.
That's a pretty red flag. If you ask me, 30% is a big increase and expired listings. So what does this mean if you're a seller or a buyer, well, if you're going to sell a home that expired listing stat should give you some pause. You need to adjust your perspective and realize that we need to price your home off of where the market is going, not where the market has been because it's changing.
But there's still some really great strategies out there right now to get your home sold fast. If you're a buyer now is a perfect time to get into the market for a couple of reasons, interest rates are still predicted to go up. So you want to get in and lock in that rate as low as you can.
And as you can see, sales have slowed inventories return to the market, meaning you as a buyer now have some opportunity to negotiate deeper discounts on those houses where you might not have in the spring, here's an interesting tidbit prices are up 15% from where they were pre pandemic.
If you have any questions or concerns about the market, if there's anything else in this world that I can do to serve you, please reach out to me, because, as always, I'm just happy to help.
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