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Demand for Saskatoon housing softens slightly in September 2010: SRAR

The Saskatoon Region Association of REALTORS® (SRAR) released the residential real estate statistics for September of 2010today, accompanied by this release.


For the month of September unit sales were down by 13% with 304 units selling in Saskatoon as compared to 351 in September of 2009. Year to date unit sales are down 7% with 2,830 properties having sold. The average time on the market was 39 days. The greatest sales activity was in the $300,000 to $350,000 price range.


Click the image for a larger version of the graph.


The average residential selling price in September was $312,582, up 12% from September 2009 when it was $279,457. Year to date, the average selling price is up 6% and stands at $294,465. The increased average selling price indicates sustained activity in the mid to upper price range. Another contributing factor is with new home construction being active, numerous new homes are being sold through the MLS® system. Often these new homes are in the mid to higher price range impacting the average selling price.


Click the image for a larger version of the graph.


Year to date, REALTORS® have sold $833,335,308 worth of real estate, down 2% from 2009 when $848,096,579 of real estate had sold by this time. Listing numbers are up 15% from September 2009 with 594 properties being listed last month. Year to date, new listings are up by 3% with 5,626 properties being placed on the market. Home buyers had 1,304 homes to select from at the end of September.


Click the image for a larger version of the graph.


The market also softened somewhat in communities around the city (Martensville, Warman, Clavet and Dundurn, etc.). 79 sales took place, down 34% from September 2009 when 119 homes were sold. The average selling price for September in these communities was $249,825, down 8% from September 2009 when it was $271,401. Listing numbers were down slightly in the month of September with 272 properties being placed on the market, down 7% from September 2009 when 294 homes were listed.


Consumers continue to express their confidence in the local economy as evidenced by their buying patterns. Employment numbers continue to increase. New home construction is doing well, retail sales are strong and when coupled with low interest rates, conditions are favourable for a sustainable market environment. Sales and listing activity is expected to remain similar throughout the fourth quarter.


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

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

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