The Saskatoon Region Association of REALTORS® (SRAR) released the residential real estate statistics for July, 2011 today, accompanied by this release. The month of July was active for Saskatoon REALTORS® who sold 403 residential properties, up 13% from July of 2010 when 356 properties were sold. Year-to-date, unit sale numbers stand at 2405, up 9% from the same point in 2010 when the total stood at 2212. The $300,000 to $350,000 price range continues to be the most active. The average number of days to sell in the month of July was 35.
The average residential selling price in July was $303,439 or roughly 4% higher than it was in July of 2010 when it stood at $290,411. At the end of July, the year-to-date average selling price was $305,419, up 5% from year-to-date numbers reached by July of 2010 when it was $290,559. REALTORS® listed 603 homes in July, up 10% from July of 2010 when 549 properties were placed on the market. Year-to-date, 4536 homes have been listed, up 3% from the same time last year when 4,388 being placed on the market. Home buyers had 1405 homes to select from at the end of July, down just slightly from June when 1430 were available to purchase.
In areas surrounding Saskatoon (Martensville, Warman, Clavet, etc.) sales activity was very strong with 96 homes selling, up 37% from July of last year when 70 homes traded. REALTORS® listed 619 properties in these areas during the month. That number is up 15% from July of 2010 when 536 properties were placed on the market. The average selling price in these areas was $289,037, up 2% from July of 2010 when it was $284,388. During the month of July it took 63 days on average to sell a property in areas surrounding Saskatoon. The new home market remains strong with steady city lot sales taking place. Interest rates remain stable and continue to be favorable to purchasers. Job creation in the Saskatoon area remains steady. The forecast for the remainder of 2011 is for listing and sales numbers to continue to balance and for prices to level or move up slightly due to demand.
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Royal LePage Vidorra