A closer look at the Saskatoon real estate statistics for August 2008

Residential unit sales in the single-family home and condominium categories took a solid tumble in August falling to just 212 units, down from 339 in July, and down further from 368 in August 2007. The average selling price dipped to $282,470 from $294,306 the previous month but settled in above the final numbers for August 2007 when the average price of a home reached $255,955. The average cost per square foot for a Saskatoon home was up $30 from last year to $263, about even with July 2008.

In the single-family home category, unit sales declined from 266 units last August to settle at 150. Average selling prices slid sharply from $322,715 in July to $306,095 in August but remained significantly higher than the $268,708 average reported in August of last year. The average cost per square foot managed to climb slightly from $268 in July to $269 in August, but the average size of the houses that traded was just 1,136 square feet compared to 1,204 the month before.

The average price of a Saskatoon condo continued to slide for the fourth consecutive month reaching $225,311, down from $239,952 in July and just slightly higher than the average in August 2007 when it reached $222,698. Still, the average cost per square foot came in at $241, compared to just $224 in August 2007, and $248 in July 2008.

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Norm Fisher

Royal LePage Vidorra