CONTACT

A closer look at the Saskatoon real estate statistics for July 2010

The Saskatoon Region Association of Realtors recently reported July 2010 results for the entire residential category of Saskatoon real estate including single-family homes, condominiums, semi-detached properties, duplexes, mobile homes and vacant lots. Unit sales totaled 357 across all of these property types for a decline of roughly eighteen percent compared to the previous July when a record 438 residential property sales were completed. The average selling price came in at $289,715 last month for a gain of roughly six thousand dollars (two percent) when compared to July of 2009. Let’s have a look at how single-family detached homes (houses) and condominiums did in comparison to the entire residential category.


House sales trailed off slightly on a month-over-month basis, but fell quite significantly when compared against last July. The month closed with a total of 228 houses changing hands, down just four from June, but nearly twenty-three percent lower than the 294 sales recorded in July of 2009.


Active listings in the house category dropped at a faster pace than sales. At the close of July, there were 733 detached houses available for a total supply of 3.3 months. That number represents a drop of 0.4 months compared to June, but it’s well above the 2.5 month supply that existed at the same time last year.


The average selling price of a Saskatoon house inched lower losing nearly three thousand dollars compared to June, but remained higher on a year-over-year basis by four thousand dollars. The median selling price of a house slipped even further, falling ten thousand dollars over the month to finish at $301,000, just two thousand dollars higher than it was at this time last year. The three-month average selling price remained towards the peak price for the year at $321,060, down thirty-six hundred from June and up about eleven thousand from July 2009.



Saskatoon condo sales also took a dip, though not nearly as seriously as houses. July closed with 113 firm deals, down seven sales from June and below last year’s numbers by sixteen units.

The number of Saskatoon condos for sale slid slightly for the second month in a row. July closed with inventory totaling 463 units. However, softer sales pushed the total months of supply higher by 0.2 months to close July with a 4.1 supply, roughly thirty percent higher than it was at this time last year when just a 3 month supply of condos existed.



The average price of a Saskatoon condo took a big hit in July after reaching its annual peak in June. It slid more than eleven thousand dollars over the month to settle at $239K, nearly nineteen thousand dollars higher than it was last year during the same month. The median price slid nearly six thousand dollars on the month to $223,000 but managed to maintain year-over-year gains of nearly thirteen thousand dollars. The three-month average selling price inched up on a month-over-month basis to hit its highest number this year, $244,582 and record an annual gain of roughly twenty-nine thousand dollars.


I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.


Our Saskatoon home search tool offers MLS listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here.


Norm Fisher
Royal LePage Vidorra

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

Note: We are in the process of bringing this blog home to the TeamFisher.com domain and we have a lot of stuff to move! Another 700 posts can be found at normfisher.com where they'll remain until we can get them moved here.

The Saskatoon Region Association of REALTORS® (SRAR) IDX Reciprocity listings are displayed in accordance with SRAR's MLS® Data Access Agreement and are copyright of the Saskatoon Region Association of REALTORS®.
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatoon Region Association of REALTORS® displayed on this site is refreshed every 2 hours.
Google Analytics Alternative