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Saskatoon real estate market maintains momentum: SRAR

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


Saskatoon’s real estate market maintained its momentum throughout the first quarter. Unit sales were up 28% with 361 homes being sold compared to 282 in March 2009. Year to date, 775 properties have sold, up 10% from 2009 when 704 properties changed hands. The average days on the market dropped to 30 with some areas taking as little as 22 days.


Click the image for a larger version of the graph.


The average residential selling price in March was $282,615, up 6% from the same month last year when it was $266,620. Year-to-date, the average selling price is $282,270, up 3% from 2009 when it was $274,555. The highest numbers of sales so far this year were in the $300,000 to 350,000 price range.


Click the image for a larger version of the graph.


Listing inventory remained steady with home buyers having 1045 properties to select from at the end of March. REALTORS® listed 738 homes in March up 11% from 2009 when 662 were placed on the market.


Click the image for a larger version of the graph.


In areas surrounding Saskatoon unit sales were up 49% with 97 properties selling compared to 65 in March of 2009. Year to date, 168 properties have sold in these areas, up 22% from 2009 when 138 properties had sold. The average selling price in these areas was $260,054, up 16% from March 2009 when it was $224,328.


The Saskatoon and area market is steady and is expected to remain so throughout spring and summer. Slightly higher interest rates may affect some first time buyers who are close to the line when qualifying for financing to purchase a home. Conditions in Saskatoon are very favourable for strong real estate sales and development.


City lot sales for 2010 have already exceeded the City Land Branch goals and expectations. Saskatoon leads the nation in population growth and job creation. Many businesses regularly express interest in relocating to this city and in-migration in general is becoming more commonplace. All indicators point to 2010 remaining a solid market environment in Saskatoon.


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.
 

Note: We are in the process of bringing this blog home to the TeamFisher.com domain and we have a lot of stuff to move! Another 700 posts can be found at normfisher.com where they'll remain until we can get them moved here.

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