Saskatoon Real Estate Facts and figures - August 2010

By
Real Estate Agent with Royal Lepage Saskatoon Real Estate

SRAR releases Saskatoon market update for August 2010

Residential Home Sale Numbers Down - Average Selling Price Up

Saskatoon REALTORS® assisted 313 buyers with the purchase of a home in the month of August. This number was down 20% from August 2009 when 392 homes were sold. Year to date 2,527 homes have sold, down 6% from 2009 when year to date numbers stood at 2,696. The increase in new home sales has somewhat impacted the resale market.

Increased sales activity in the mid to upper price range homes contributed to the 8% rise in the average selling price in August which stood at $305,866.00. The average selling price in August 2009 was $282,320.00. The year to date figure stands at $292,323.00 up 5% from 2009 when the average was $278,193.00. The highest sales activity remains in the $300,000.00 to $350,000.00 price range.

The average residential price is derived by taking the month's dollar volume of homes sold and dividing that number by the unit sales number. The percentage of change should not be used unilaterally as prices vary from area to area. Consumers wishing an accurate estimate of value for their home should contact a REALTOR® member to do a comparative market analysis.

645 properties were placed on the market for sale in the month of August; this number is up 25% from August 2009 when 517 homes were listed for sale. The year to date listing number stands at 5,033. Home buyers had 1,355 homes to select from at the end of August on par with last month when 1,334 homes were for sale.

In areas surrounding Saskatoon e.g. Martensville Warman and Dundurn unit sales were down 6% with 90 properties being bought as compared to August 2009 when 96 homes were purchased. The average selling price was $259,338.00 down 4% from August 2009 when the average was $270,488.00. Listing numbers were up 25% in the areas around Saskatoon with 248 properties being listed as compared to 199 in August 2009.

Residential sale numbers are expected to remain on par or soften slightly for the remainder of the year. Interest rates are favourable, confidence remains strong in the local economy and new home sales continue to build momentum. These are all necessary components to maintain a stable market environment.

Saskatoon Region Association of REALTORS®

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Check out www.saskatoon4sale.com for additional info and listings in Saskatoon, Saskatchewan, Canada or call John Pearce direct at (306) 880-0946

Comments (1)

Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

Thanks for sharing your local real estate stats with us today. Always be informed

Sep 10, 2010 02:49 AM