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Saskatoon region MLS® dollar volume up 16 percent over last year: SRAR


The Saskatoon Region Association of Realtors® (SRAR) released the MLS® residential real estate statistics for March of 2014recently accompanied by the following release.


Please note that many of the association’s comments (in italics) touch on “year-to-date” numbers, and some may be based on all sales within the association’s full trading area. The charts which you see, as always, reflect activity within the city of Saskatoon on a month-to-month basis over the past several years.


In the first quarter of the year 1,240 MLS® transactions occurred in the Saskatoon and region marketplace for a volume of $423 million, up 16 percent year-over-year. Listing activity is also up 19 percent over last year with just over 3,000 new listings added to the market. Sales activity has also been solid with a ten percent increase over the first quarter of last year. According to Jason Yochim, Executive Officer of the Saskatoon Region Association of REALTORS®, "Consumer confidence remains strong across the board in all price ranges." Homes in the $500,000 to $750,000 range experienced the greatest change in sales increasing from 78 units in Q1 of 2013 to 118 units by the end of March this year representing a 51 percent increase. "The inventory of new homes seems to be moving again which often brings entry level homes to the market as families move up to their second home,” adds Yochim.


Currently the 1,349 homes on the MLS® within Saskatoon represent a 4.1 month supply of inventory, the lowest level since October of 2013 which had 3.9 months. Area 1, which includes several new neighbourhoods, had 154 sales in March and an existing inventory of 721 properties (4.7 months). Comparatively, Area 4, which includes many of the core neighbourhoods and mostly existing property sales saw 47 properties change hands on MLS® and currently has an inventory of 142 properties (3 months). "These numbers indicate that home owners and developers in certain neighbourhoods have to be patient in waiting for a sale or consider adjusting their asking prices for a quicker sale, as price and time to sell are inversely related,” states Yochim.


The benchmark value for a typical single family home in Saskatoon continued its upward trend to a value of $326,000. This value does not represent the average or median price but rather is a comparative value of single family homes in markets across Canada. The cities of Regina, Calgary, Toronto and Greater Vancouver had benchmark values of $314,100, $472,800, $574,000 and $945,700 respectively for comparable properties. By comparison, homes are still very affordable in Saskatoon.


See the Saskatoon MLS® stats for last month. See the Saskatoon MLS® stats for March of 2013.


I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call of email me.


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Norm Fisher
Royal LePage Saskatoon Real Estate

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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The Saskatoon Region Association of REALTORS® (SRAR) IDX Reciprocity listings are displayed in accordance with SRAR's MLS® Data Access Agreement and are copyright of the Saskatoon Region Association of REALTORS®.
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