Annual Saskatoon real estate sales volume passes $1 billion in August, 2013: SRAR

The Saskatoon Region Association of Realtors® (SRAR) released the MLS® residential real estate statistics for August of 2013today 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.

For the second year in a row the gross dollar volume for home sales exceeded $1 billion by the end of summer. At this rate the Saskatoon Region Association of REALTORS® is on track to break the $2 billion mark by year end. The number of units sold year-to-date was down by 2 precent in 2013 however an increase in the average selling price of 4 percent boosted the yearly volume by $25 million over the same period last year. "Listing activity is up 8 percent over last year thanks in part to 1,125 new properties added to the market last month versus 936 in August of 2012," according to Jason Yochim, Executive Officer with the Saskatoon Region Association of REALTORS®. "There are currently 3,118 properties for sale in the Saskatoon region and 1,373 within Saskatoon."

The average sale price in Saskatoon was up 4 percent from last year at this time to just under $345,000. "We are actually in balanced territory with 54 percent of listed properties selling. With the number of new listings up almost 10 percent over last year and the number of sales unchanged, we can expect this balanced market to continue for the foreseeable future," comments Yochim. "A steady supply of new listings will help to ensure that our demand does not put a sharp upward pressure on pricing.”

Home sales between $300,000 and $500,000 continue to increase at the greatest rate, accounting for approximately one half of all sales. Sales between $450,000 and $500,000 increased 30 percent over the first two-thirds of the year.

In recent years there has been a growing interest in farmland in Saskatchewan which has driven prices to unprecedented levels, however, activity is down this year with farmland transactions at 55 percent of what they were a year ago. "The dollar volume for farmland so far this year is at $14.5 million compared to 24 million in 2012. It’s hard to say what caused the sharp decrease, however, it could be due to prices reaching levels that no longer make sense to the investor," states Yochim.

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

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

Norm Fisher
Royal LePage Saskatoon Real Estate

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale.Less...

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale. Known locally as an impact leader he supports many organizations that serve our community’s most vulnerable people like the Saskatoon Interval House, the YWCA Crisis Shelter, the Lighthouse, the Friendship Inn and others. He has participated in several physically daunting charitable challenges and helped raise over one million dollars for women's shelters across Canada. Additionally, he’s a charter member of 100 Men Who Give a Damn in Saskatoon, a group of local philanthropists who are driven to bring positive change to those in need within our community. Fisher is a licensed real estate broker and owner of Royal LePage Vidorra, a boutique brokerage known for technology and innovation.

Note: We are in the process of bringing this blog home to the domain and we have a lot of stuff to move! Another 700 posts can be found at 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