Please note that many of the association’s comments touch on “year-to-date” numbers, and some are based on all sales within the board’s 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.

As expected, Saskatoon real estate sales activity was up considerably in March compared to February with an increase of 21 percent in listings and a 35 percent increase in sales. "Spring is typically the most active time of the year for real estate. The winter was long and with all the snow, most buyers and sellers preferred to wait for more suitable conditions unless they had to make a move," comments Jason Yochim, Executive Officer for the Saskatoon Region Association of REALTORS®. Market activity in March was comparable to March of 2012 with 934 new listings and 480 property sales. At the end of the first quarter, the number of properties listed in Saskatoon and area was 5% lower than last March (344 versus 368 last year).

Click the image for a larger version of the chart.

Click the image for a larger version of the chart.

The average sale price in Saskatoon continued its upward trend at the modest rate of three percent to $336,100. The average price a year ago in Saskatoon was $326,800. "Averages can be misleading," warns Yochim. "An average price is just that, an average of all sales across the entire market place, and can be easily skewed by many factors. The good news is the market is healthy with a strong demand for homes in the $250,000 to $400,000 range." 

Activity in the $275,000 to $400,000 price range continues to be down from last year, this is largely due to a shortage of product in this price range. Unit sales in the $450,000 to $500,000 price range saw a 43 percent increase, year-to-date. Overall, year-to-date sales were down eight percent in the first quarter of 2013 resulting in a four percent reduction in the total dollar volume of $362,974,828.

Click the image for a larger version of the chart.

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.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

Norm Fisher
Royal LePage Saskatoon Real Estate

Please note that many of the association’s comments touch on “year-to-date” numbers, and some are based on all sales within the board’s 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.

The number of units sold in Saskatoon declined by 10% when compared with January of 2012, however, sales activity in the communities and acreages outside of the city increased by 40% compared with last January. "The decrease in sales is partly the result of the mortgage rule changes in July of 2012 as well as a shortage of product in the $250,000 - $400,000 price range," says Jason Yochim, Executive Officer with the Saskatoon Region Association of REALTORS® (SRAR). Of the 1,105 active listings at the end of January, only 200 of them fall between $250,000 and $400,000. "More buyers are considering bedroom communities in an attempt to find what they are looking for in this price range."

Click the image for a larger version of the chart.

The average sale price in Saskatoon and area continues to increase at a healthy rate of around 5% which insulates our market from price corrections as experienced in major Canadian cities like Vancouver and Toronto. Currently the average price for a home in Saskatoon sits at just over $335,000 while the surrounding communities average price is $279,000.

Click the image for a larger version of the chart.

New listings in Saskatoonin the month of January totalled 571 units which is an 8% increase compared to the same period last year, while the 204 listings outside of Saskatoon represented a 10% increase. "It's encouraging to see that our listing activity is up at the outset this year in contrast to 2012, which saw a slight decrease in new listings over the year." says Yochim. Active residential listings within the city of Saskatoon sat at 1,015 at the close of January, up from 951 at the same time last year.

Click the image for a larger version of the chart.

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.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

Norm Fisher
Royal LePage Saskatoon Real Estate

Please note that many of the association’s comments touch on “year-to-date” numbers, and some are based on all sales within the association’s 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.

The strong Saskatchewan economy in 2012 was reflected in real estate sales with a year-over-year increase in the average sale price of seven percent and an increase of five percent in units sold. “Sales activity was quite strong in the first two quarters of 2012 compared to the latter half of the year. This cooling off is most likely a reflection of the federal governments changes to the mortgage rules in June,” says Jason Yochim, Executive Officer with the Saskatoon Region Association of REALTORS® (SRAR). “The most notable decrease in sales activity since July 1 showed up in the price ranges below $400,000.”

The average sale price for a home in Saskatoon sat at just under $332,000 at the end of December while the median price hovered around $325,000. Comparatively, the average price in the rural market surrounding Saskatoon remained virtually unchanged with an increase of only one percent for the year. Sales in the rural market were up five percent over 2011 while the number of new properties listed dipped by four percent.

Click images for a larger view.

“At the end of December, the number of active listings on the SRAR MULTIPLE LISTING SERVICE® was at 1,793 which is a decrease of eight percent from the previous year,” says Yochim. Unit sales slightly outpaced new listings resulting in a decrease in available property for consumers to choose from. Builders have been working hard at filling this shortfall, however more product on the existing market would be timely and welcome. “The shortfall is not significant enough to push us out of a balanced market at this point with prices only increasing seven percent over the year”.

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.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

Norm Fisher
Royal LePage Saskatoon Real Estate

Please note that many of the association’s comments touch on “year-to-date” numbers, and some are based on all sales within the board’s 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.

Year-to-date sales volume in the Saskatoon and area market to the end of November was up seven percent compared to levels a year ago. Listing activity in November was equal to 2011 with the total number of homes listed year-to-date at 10,455. 

“The increase in selling activity relative to listings continues to put pressure on prices bringing our year-to-date average price in Saskatoon up to $331,500 compared to $309,500 a year ago,” says Jason Yochim, Executive Officer with the Saskatoon Region Association of REALTORS®. “We are continuing to see a strong but balanced real estate market in Saskatoon and area,” added Yochim. This is reflected in the total dollar volume which reached 1.7 billion compared to 1.5 billion last year.

Currently there are 1,063 active property listings available in the Saskatoon market place and 805 listings in areas surrounding Saskatoon. The sales to listing ratio in Saskatoon is 61% compared to 45% in the communities and acreages surrounding Saskatoon.

The average sale price for homes surrounding Saskatoon currently sits at $283,606, virtually the same as it was a year ago. New listings in the rural market surrounding Saskatoon were down five percent year-to-date compared to last year, however total sales were up four percent. The acreages and communities outside Saskatoon have consistently seen a decrease in listing activity every month this year at an average rate of five percent.

“We are fortunate in these economic times to be located where we are,” says Yochim. “The economy is diverse and strong, demand is steady, prices are increasing but not out of control. If I would like to see anything change in 2013 it would be a few more properties available for our buyers to choose from.”

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.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

Norm Fisher
Royal LePage Saskatoon Real Estate

Please note that many of the association’s comments touch on “year-to-date” numbers, and some are based on all sales within the board’s 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 October, 250 of the 434 home sales exceeded $300,000 compared to 205 last October, nearly a twenty-five percent increase. “The Saskatoon market continues to exhibit signs of strong activity with continued growth in sales and a steady increase in the average sale price,” according to Jason Yochim, Executive Officer with the Saskatoon Region Association of REALTORS®. Three homes sold for more than one million dollars bringing the year to date total to 16, twice that of 2011. “The number sales in Saskatoon year-to-date is up seven percent over the same period last year with the average sale price up six percent to $330,496 compared to $309,249 a year ago,” says Yochim.

Listing activity is on par compared to 2011 with 6,457 homes listed for sale year-to-date in Saskatoon. Currently there are 2,498 active listings in the Saskatoon and surrounding market with 1,146 of these within city limits. “The sales to listing ratio indicates the number of sales related to new listings for a period of time. The year-to-date sales to listing ratio in Saskatoon was fifty-eight percent indicating a balanced market”.

New listings in the rural market surrounding Saskatoon were down five percent year-to-date compared to last year, however total sales were up five percent. The average sale price for rural properties outside Saskatoon was $285,001. This number takes into account sales of acreages and homes in the bedroom communities.

“I expect to see similar activity in the Saskatoon and area market in 2013 reflecting a balanced market and a moderate increase in home prices. Our economic forecast looks good, however, there is still a shortage of skilled trades people in new home construction,” said Yochim.

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.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

Norm Fisher
Royal LePage Saskatoon Real Estate

For the first time in 18 months the number of sales has declined moderately in two consecutive months, however year-to-date sales are still up six percent compared to the end of September last year. Homes priced between $275,000 and $400,000 experienced the greatest decrease in unit sales during the past two months. “There are concerns in the market place that recent changes to mortgage rules would have a significant impact on the market however while this may be true in some Canadian markets. I believe the economic position and population growth of Saskatchewan mitigate this,” comments Jason Yochim of the Saskatoon Region Association of REALTORS®.  “Markets like Toronto and Vancouver have experienced unrealistic gains due to foreign investment and are now experiencing significant corrections. Unfortunately, most economists paint the entire country with the same brush. If the real estate bubble is bursting in major Canadian markets it shouldn’t be assumed that it holds true for us,” says Yochim.

Listing activity was down four percent compared to last September, however, the number of homes listed year-to-date is up two percent compared to the same time last year. Currently there are a total of 2,637 active listings in the Saskatoon and area market which is down four percent from the same time in 2011.

On average it took a home 40 days to sell in Saskatoon a year ago. This past September the average days on market was reduced to 33. By comparison, in the rural market outside Saskatoon, at 59 days, it took less time to sell a home last September compared to 63 days on average for the same period in 2012.

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.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

Norm Fisher
Royal LePage Saskatoon Real Estate