“The real estate market in the Saskatoon area is showing no sign of slowing down,” reports Jason Yochim, Executive Officer of the Saskatoon Region Association of REALTORS® (SRAR) today. Year to date residential sales dollar volume of $180,802,565 is up a whopping 30% over 2011.
“Buyers continued to be active in the market place with sales outpacing the number of new listings (percentage increase),” said Yochim. “Unit sales, year to date, are up 21 percent while the number of units listed is up only 2 percent. This resulted in an increase of 7 percent in the average sale price to $313,893 compared with $292,510 last year”
For the number of units sold year to date, there was a 41 percent increase in homes priced between $300,000 and $500,000. Properties located west of the river enjoyed the highest average sale price increase at 12 percent.
Yochim concluded that Saskatoon continues to enjoy a balanced market with a sales to listing ratio of 52 percent. “This means that one out of every two homes listed are selling. However, if the number of sales continues to outpace new listings, we will lean more towards a seller’s market.” Economic growth, coupled with a supply imbalance, will continue to mean this is a good time for homeowners to consider capturing more equity from their properties. “Now is definitely a good time to put your home up for sale,” Yochim summarized.
Saskatoon Region Association of REALTORS®
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