In the month of December Saskatoon REALTORS® assisted 211 buyers to fulfill their home ownership dreams, this number up 31% from December 2008 when 161 homes were purchased. Year to date 3,822 residential units have been sold, up 9% from 2008 when 3,520 homes were sold by this same time.
The average residential selling price remained steady at $291,554, up 9% from December 2008 when it was $266,420. Year to date, the average selling price was $ 278,779, down 3% from 2008.
In 2009 REALTORS® sold $1,065,500,000 worth of residential real estate in Saskatoon. This number represents an increase of 5% from 2008 when sales totaled $1,013,117,000. The highest amount of activity in 2009 was in $300,000 to $350,000 price range followed by significant activity in the $275,000 to $300,000 price range.
Listing inventory continued to correct throughout 2009. Home buyers had 703 homes to select from at the end of December as compared to 1,127 in December 2008. REALTORS® listed 212 properties last month, down 13% from December 2008 when 245 homes were placed on the market.
Sales activity in communities surrounding Saskatoon was also very high during 2009. 47 properties were purchased in December, up 68% from December 2008 when 28 properties were purchased. Year to date 951 properties have been sold, up 9% from 2008 when 869 properties were sold. The average selling price was $258,996, up 15% from 2008 when the average price was $224,421.
At year-end consumer confidence in the local economy remains optimistic, a necessary component for consumer spending. All indicators point to a stable, steady real estate market in 2010. Unknown variables capable of affecting the market place are provincial revenue streams.
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