The Saskatoon Region Association of Realtors® (SRAR) released the MLS® residential real estate statistics for August of 2012 today accompanied by the following release.
The total residential dollar volume for homes sold within the city of Saskatoon for 2012 exceeded $1 billion by the end of August, two months ahead of last year. The year-to-year number of transactions is up nine percent over last year while the number of new listings is on par with 2011. “Although the sales activity for August was down compared to August of 2011 the average sale price rose eight percent to $330,597,” according to Jason Yochim, Executive Officer of the Saskatoon Region Association of REALTORS®. “Saskatoon has experienced strong sales overall in 2012 with a total of 4,049 sales in the city compared with 3,718 by this time in 2011.”Currently, there are a total of 1,234 active listings in Saskatoon which represents just over two listings per REALTOR®.
Sales under $250,000 remained consistent with 2011 while there were considerably more sales above $250,000 which aids in pushing up the average price. “By the end of August there were 251 sales over $500,000 compared with 162 for the same period last year including 9 sales over $1,000,000,” says Yochim.
The rural market surrounding Saskatoon also experienced a slowdown in the number of transactions in August, down nineteen percent when compared to the same month last year. Year-to-date, total unit sales of 775 represent a five percent increase over 2011. The year-to-date average selling price in the market outside Saskatoon remains virtually unchanged at $282,452.
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