The Saskatoon Region Association of Realtors® (SRAR) released the MLS® residential real estate statistics for November of 2012 today accompanied by the following release.
Please note that many of the association’s comments touch on “year-to-date” numbers, and some are based on all sales within the board’s trading area. The charts which you see, as always, reflect activity within the city of Saskatoon on a month to month basis over the past several years.
Year-to-date sales volume in the Saskatoon and area market to the end of November was up seven percent compared to levels a year ago. Listing activity in November was equal to 2011 with the total number of homes listed year-to-date at 10,455.
“The increase in selling activity relative to listings continues to put pressure on prices bringing our year-to-date average price in Saskatoon up to $331,500 compared to $309,500 a year ago,” says Jason Yochim, Executive Officer with the Saskatoon Region Association of REALTORS®. “We are continuing to see a strong but balanced real estate market in Saskatoon and area,” added Yochim. This is reflected in the total dollar volume which reached 1.7 billion compared to 1.5 billion last year.
Currently there are 1,063 active property listings available in the Saskatoon market place and 805 listings in areas surrounding Saskatoon. The sales to listing ratio in Saskatoon is 61% compared to 45% in the communities and acreages surrounding Saskatoon.
The average sale price for homes surrounding Saskatoon currently sits at $283,606, virtually the same as it was a year ago. New listings in the rural market surrounding Saskatoon were down five percent year-to-date compared to last year, however total sales were up four percent. The acreages and communities outside Saskatoon have consistently seen a decrease in listing activity every month this year at an average rate of five percent.
“We are fortunate in these economic times to be located where we are,” says Yochim. “The economy is diverse and strong, demand is steady, prices are increasing but not out of control. If I would like to see anything change in 2013 it would be a few more properties available for our buyers to choose from.”
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