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Saskatoon residential real estate sales on par with May 2008 in May 2009: SRAR

The Saskatoon Region Association of REALTORS® (SRAR) released the residential real estate statistics for May 2009today, accompanied by this release.


Residential home sales remained steady in the month of May. Saskatoon REALTORS® sold 372 homes in the month of May that number up 2% from May 2008 when 363 homes were sold. Year to date 1,428 homes have sold, that number down 22% from 2008 when 1832 homes sold. May’s number indicates somewhat of a recovery in market place activity. Dollar volume for May was $103,965,000 down 5% from 2008 when $109,610,000.00 of real estate was sold.



Listing inventory continued to correct last month, REALTORS® listing 721 properties down 29% from May 2008 when 1014 properties were placed on the market. Year to date 3156 homes have been listed for sale that number down 7% from 2008 when 3406 properties were placed on the market. Home buyers had 1532 homes to select from at the end of May.



The average selling price was up from years prior to 2008.


• 2009 - $279,477.00

• 2008 - $301,957.00

• 2007 - $233,404.00

• 2006 - $162,489.00

• 2005 - $145,548.00

• 2004 - $135,532.00




Sales activity in communities around Saskatoon remained steady. REALTORS® sold 97 properties, that number up 13% from 2008 when 86 homes were sold. The average price is up slightly at $238,904.00, as compared to 2008 when the average was $233,906.00. Year to date the average price is up 5% at $241,080.00.


Summer sales and listing activity is expected to remain similar as the market continues to correct with excess inventory moving through the system. Saskatoon has been somewhat effected by the global recession but all indicators point to the local market remaining steady in the next few months.


Drop by early next week when our “Closer look at the Saskatoon real estate statistics for May” will be posted. It includes a more extensive overview of unit sales, prices and active listings of single-family homes and condominiums.


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.


Follow our daily updates on Twitter @Norm_Fisher.


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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