The average selling price of Saskatoon homes took another substantial jump during the month of June passing the quarter million dollar mark for the first time ever. A total of 452 single-family homes and condominiums changed hands in June at an average of $251,120.
328 single family homes (houses) were sold by Saskatoon real estate agents at an average of $262,145, up from $243,006 in May.
124 condos were sold in Saskatoon at an average selling price of $221,958, an increase of over $12,000 compared to those sold during the month of May.
Note: My research shows that in May only three houses which were larger than 2,500 square feet were sold in Saskatoon. There were seven such homes sold in June. These additional sales added almost 2.5 million dollars to the total sales volume which does have an impact on average prices. For instance, if you took those 4 additional sales out of the equation you’d see average selling prices of $245,989 in the “houses and condos” category and an average of $254,523 for “houses.”
No matter how you look at it they’re still pretty big increases over a thirty day period. July and August typically bring some relief for buyers. Will the Saskatoon real estate market continue to see these dramatic increases over the summer months or are we nearing the end of this bull run? Please let me know what you’re thinking.
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.
Norm Fisher Royal LePage Vidorra