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Saskatoon real estate sales maintain softening trend in October: SRAR

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


As forecast, the unit sale numbers for the month declined by 15% with 262 properties being sold compared to 309 properties selling in October 2009.  Year to date, unit sales are down 8% with 3,088 homes having sold compared to 3,356 homes having sold by this time in 2009.


Click the image for a larger version of the graph.


The average selling price in October was $293,929, up 7% from the same month last year when it was $274,879. For the first time in a while, the $250,000 to $275,000 entry-level price range experienced the greatest sales activity. Year to date, the $300,000 to $350,000 range still has dominant sales activity.


Click the image for a larger version of the graph.


REALTORS® listed 455 homes during the month, up 3% from October 2009 when 441 homes were placed on the market. Year to date, listing numbers are up 3% with 6,081 properties being offered for sale. Consumers had 1,219 homes to select from at the end of October.


Click the image for a larger version of the graph.


Sales activity in the smaller communities around Saskatoon (Martensville, Warman, Dundurn, etc.) remained very steady with 77 units selling. That number was down 14% from October 2009 when 90 units sold. The average selling price for the month was down 3% from the same month last year to $243,353 while the year to date average selling price in these areas is up 1% to $255,409. Listing numbers were down 4% with 190 properties being placed on the market compared to 198 in October 2009.


Sales activity is expected to remain steady for the remainder of the year. Interest rates remain attractive and job creation continues at a reasonable pace. Existing home sales may continue to soften slightly given steady growth in the new home sector, which impacts existing home sales and averages.


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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