After four consecutive months of slow declines, Saskatoon house sale numbers inched up slightly on a month over month basis, finishing just two sales ahead of August at 206. Year-over-year declines continued as sales fell by thirty units, or fourteen percent when compared against the same month last year. Once again, sales of houses below $350,000 took a real beating falling from 178 in September of last year to 130 a year later. At the same time, sales of houses in the $351,000 and higher range increased from 58 units a year ago to 75 sales this September.
The inventory of available homes in the single-family category declined marginally over the past month falling from 773 at the close of August to finish September at 766. Combined with more stable unit sales, the small decline had the effect of lowering “months of inventory” which fell to 3.7, down by just 0.1 months. Compared to September of 2009, total months of inventory grew substantially from a low 2.5 month supply.
For the second month in a row the shifting in the price ranges of houses that sold wreaked havoc on the average selling price of a Saskatoon house, pushing it to its highest point ever, $339,692 to eclipse its previous record set in June of 2008by just $114. That number is up roughly twelve percent from September 2009. Naturally, the median price remained high at $323,000 gaining $1,000 on the month and $28,000 on a year-over-year basis. The three-month average selling price picked up $6,000 over August numbers to finish the month at $331,822 up from $308,882 in September of last year. The average price per square foot paid for a Saskatoon house also saw a jump of about eight percent on a year-over-year basis, climbing from $246 last year to $266.
Saskatoon condo sales slipped low again for the third consecutive month, sliding from 95 in August to 90 in September. At the same time, condo sales dropped just seven units from the same month last year, a decline of seven percent, roughly half of the drop than we saw in single-family homes. We see a similar shift in the price range of condos that are selling as unit sales below $250,000 drop from 71 in September of last year to 54. Sales of Saskatoon condos from $251,000 and higher experience an increase from 26 units a year ago to 36 units this year.
Condo inventory closed the month of September sharply lower on a month-over-month basis falling a little more than ten percent to 437 units, still a fair bit higher than it was at the close of the same month last year when just 351units showed an active status on the Saskatoon MLS system. Total months of inventory slipped slightly lower over the month to finish just below the five-month mark, up from 3.6 months a year ago.
The average selling price of a Saskatoon condo approached record levels hitting numbers that seem to defy all logic. The average for the month was $250,917, up from $241,440 in August and higher than the $226,271 recorded in September of 2009. The median selling price remained stable when compared to the previous month coming in at $234,000 to record a gain of $17,000 over the same month last year. The three-month average showed a small decline on the month slipping to $243,378 to maintain a gain of roughly $17,700 over the same month in 2009. The average price paid per square foot of Saskatoon condo was up to $251 in September, up from $219 a year ago.
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Royal LePage Vidorra