“The real estate market in the Saskatoon area is showing no sign of slowing down,” reports Jason Yochim, Executive Officer of the Saskatoon Region Association of REALTORS® (SRAR) today. Year to date residential sales dollar volume of $180,802,565 is up a whopping 30% over 2011.

“Buyers continued to be active in the market place with sales outpacing the number of new listings (percentage increase),” said Yochim. “Unit sales, year to date, are up 21 percent while the number of units listed is up only 2 percent. This resulted in an increase of 7 percent in the average sale price to $313,893 compared with $292,510 last year”

For the number of units sold year to date, there was a 41 percent increase in homes priced between $300,000 and $500,000. Properties located west of the river enjoyed the highest average sale price increase at 12 percent.

Yochim concluded that Saskatoon continues to enjoy a balanced market with a sales to listing ratio of 52 percent. “This means that one out of every two homes listed are selling. However, if the number of sales continues to outpace new listings, we will lean more towards a seller’s market.” Economic growth, coupled with a supply imbalance, will continue to mean this is a good time for homeowners to consider capturing more equity from their properties. “Now is definitely a good time to put your home up for sale,” Yochim summarized.

Jason Yochim
Executive Officer
Saskatoon Region Association of REALTORS®

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.

Norm Fisher
Royal LePage Vidorra

In 2012 we are starting out with a market that favors sellers. The number of residential properties listed in Saskatoon was 528 units, down only 1% from last January while the MLS® sales were up 20% to 310 units (247 units within the city limits, an increase of 27% compared to January 2010). This resulted in an increase in the average selling price of 6% to $318,163. There were a total of 951 active listings for January 2012, which was also down 1% from last January.

The $300,000 to $349,999 price range recorded the most sales at 68 units, an increase of 51% from 45 units in January 2011. The highest average sale price of $377,757 remains in the neighborhoods on the far East side of Saskatoon, which also has the most active listings and units sold.

Activity was slower in the areas surrounding Saskatoon. There were only 185 residential properties listed compared to 213 properties in January 2011 for a decrease of 13%. The number of sales was down 26% from 57 to 42 units year over year. In spite of this quieter activity the average residential sales price in the areas surrounding Saskatoon was up 3% from last January to $279,171.

The number of days to sell remained almost unchanged at 46 within Saskatoon while listings in the area surrounding Saskatoon took 75 days on average to sell which is an increase of 25%. The area with the shortest time to sell continues to be the North end, West of the river, at 33 days on average.

If the supply of product continues to remain consistent with last year and if the anticipated increase in demand occurs, our city will remain in a seller’s market with buyers competing for their purchases. It is expected that Saskatoon will continue to buck the softening price and activity trend taking place across Canada.

Jason Yochim
Executive Officer
Saskatoon Region Association of REALTORS®

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 Vidorra

The ideal balance of buyers and sellers in 2011 resulted in a modest 5 percent increase in the average residential selling price of a home in Saskatoon which increased to $309,835. This was a record setting year for the total residential sales volume which totalled $1,247,705,573. The total number of residential sales for 2011 of 4027 units was up 13 percent from 2010. The increase in the average selling price continues to make investing in real estate attractive without driving buyers out of the market place.

The average selling price in the month of December was $312,834, up 4% from December of 2010 when it was $299,897. December saw 254 houses change hands, taking 45 days to sell on average. This was a whopping 37 percent above December of 2010 which recorded 186 sales. However, the year to date increase in sales was 13 percent. There were 275 homes added to the Saskatoon inventory in December which was consistent with the previous December.

Year to date 7051 homes were listed for sale, up 4 percent from 2010 when 6757 homes were placed on the market. There were 820 residential properties for home buyers to select from at the end of December.

The change in market activity surrounding Saskatoon was less than that of the city in December. The number of properties that sold was up 8 percent from December of 2010 when just 38 homes changed hands. The average price in these areas in December was $261,852, a sharp decrease of 12 percent from 2010 when it was $295,905. The year to date average selling price, was $279,861, up 8 percent when compared with 2010. REALTORS® listed 91 homes in the areas around Saskatoon, that number down slightly by 2 percent from December of 2010 when 93 homes were listed.

It is anticipated that 2012 will be very similar to 2011 with steady increases in the average sale price. The city of Saskatoon continues to work toward meeting the demand for serviced lots. Our population will continue to see a steady in migration as the availability of jobs remains strong. Interest rates should continue to remain low due to struggling economies in some Canadian cities as well as our trading partner countries.

Jason Yochim
Executive Officer
Saskatoon Region Association of Realtors

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.

Norm Fisher
Royal LePage Vidorra

Residential sales activity for Saskatoon REALTORS® in the month of November was 286, virtually unchanged when compared with November of 2010, which saw 282 sales. This number was also only down slightly from October when 309 properties changed hands. Total residential sales year-to-date sit at 3776, up 12% from 2010 when the total was 3365 by the end of November. The $300,000 to $350,000 price range continues to be the most active with 64 sales. The average number of days to sell in the month of November was 47.

The average residential selling price in November this year was $314,541 which was only a 1% increase from November 2010. The year-to-date average selling price was up 5% from the year-to-date average in November of 2010 when it was $296,222.

Properties listed in November totaled 451, up 12% from the same month a year ago. Year-to-date, 6777 homes have been listed for sale, up 5% compared to 6483 listings by this time in 2010. There were a total of 1084 active residential listings available at the end of November representing a 4% increase compared to November 2010.

The number of sales in areas surrounding Saskatoon (ie. Martensville, Warman, Clavet, etc.) this past November was down 5% from the 75 homes that sold in November of 2010. REALTORS® listed 132 properties in these areas during the month. This is a notable decrease of 14% from November of 2010 when 154 properties were placed on the market. The average selling price in these surrounding areas was $277,797, up 7% from November of 2010 when it was $258,960. During the month of November, in areas surrounding Saskatoon, it took 60 days for a property to sell on average.

In summary, the year-to-date activity in the Saskatoon market continues to remain steady with moderate increases to market values and sales volume. The upward trend is expected to continue with positive announcements on almost a daily basis in the resource sector. The challenge continues for the city of Saskatoon, as well as surrounding communities, to meet the demand for serviced lots.

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

May’s home sale market was up twenty-one percent from May of 2010 with 423 homes selling, compared to 351 homes last year. The greatest sales activity remained in the $300,000 to $350,000 price range with many first time buyers entering the market. The average number of days to sell declined from last May when it took 36 days on average to sell as compared to 33 days this year, an indication of an active market environment.

The average residential selling price in May was $317,932. This number was up eight percent from May of 2010 when the average selling price was $295,167. The increase in the average selling price indicates strong sales activity in the mid to upper price range. Year to date, the average selling price stands at $304,664, up five percent from last year at this time when it was $289,277.

Inventory levels continued to stabilize in the month of May. Home buyers had 1378 homes to select from at the end of the month, that number up slightly from May of 2010 when 1300 homes were on the market. REALTORS® listed 762 homes in May, down two percent from May of last year when 779 properties were listed for sale. Year to date, 3,164 properties have been listed for sale. That number is on par with 2010. Inventory levels remain steady providing home buyers with a reasonable number of homes from which to select.

In areas surrounding Saskatoon, home sale activity was also up twenty-one percent from May of 2010 with 104 homes selling as compared to 86 homes selling in May 2010. REALTORS® listed 319 properties in these areas in the month of May. That number is up seventeen percent from May 2010 when 272 properties were listed. In the month of May, the average number of days to sell declined from 65 days in May 2010, to 54 days this May.

Optimism in Saskatoon’s economy remains high. This in turn is reflected in the consumer’s willingness to invest both in residential and commercial real estate. Renters are looking to purchase and many current home owners are looking to move up in house.

The first ever Saskatchewan Real Estate Forum held at TCU place last month attracted 460 participants. Attendees represented every sector imaginable from across the province and note worthy was the very high attendance from out of province. Conference goers were determined to find out what the buzz is in Saskatoon and in our province and why so many people want to buy and invest in Saskatchewan. All of this interest and activity is only the beginning of what we will see in the real estate market in Saskatoon and area in the days and months ahead.

Saskatoon’s new home market remains strong with steady city lot sales taking place. Interest rates are favorable to purchase that next home and job creation in the Saskatoon area remains steady. The forecast for the remainder of 2011 is for listing and sales numbers to increase marginally and for resale prices to move up slightly due to demand.

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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

April’s residential real estate sale market softened somewhat with 343 homes selling compared to the 369 homes that sold in April of 2010. The greatest sales activity occurred in the $300,000 to $350,000 price range. The average number of days to sell in the month of April was 36, pointing to an active and steady market environment.

The average residential selling price in April was $315,866. This number is up 6% from April of 2011 when it was $298,481. The increase in the average selling price is indicative of strong sales activity in the mid to upper price ranges. Year-to-date, the average selling price date stands at $299,843 up 4% from last year at this time when it was $287,464.

Inventory levels continued to correct during the month of April. Home buyers had 1300 homes to select from at the end of the month, up slightly from April 2010 when 1258 homes were on the market. REALTORS® listed 634 homes in April. That number was down 19% from April 2010 when 784 properties were listed for sale. Year-to-date, 2403 properties have been listed for sale, on par with 2010 when 2,383 were placed on the market for sale by this time. Inventory levels remain steady providing home buyers with a reasonable number of homes to select from.

In areas surrounding Saskatoon home sale activity also softened slightly with 93 homes selling as compared to 113 homes selling in April of 2010. REALTORS® listed 296 properties in these areas in the month of April. That number is up 3% from April of 2010 when 288 properties were placed on the market for sale. The average number of days to sell in the areas around Saskatoon during the month of April was 65.

Optimism in Saskatoon’s economy remains high, which in turn is reflected in consumer’s willingness to invest both in residential and commercial real estate. Renters want to purchase, many current home owners are looking to move up and REALTORS® also report significant interest from clients wanting to move to Saskatoon from out of province.

An important factor of a strong housing market is the activity experienced in new home sales. Saskatoon’s new home market remains strong with steady city lot sales taking place. Interest rates are favorable to purchase that next home and job creation in the Saskatoon area remains steady. The forecast for the remainder of 2011 is for listing and sales numbers to continue to balance and for resale prices to move up slightly due to demand.

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

The February resale market remained strong with Saskatoon REALTORS® assisting 282 home buyers with the purchase of their next home. This number was up twenty percent from February of 2010 when 235 homes were sold. The $250,000 to $275,000 price range was the most active, indicating greater activity in the entry level and mid price range of homes. The average number of days to sell in the month of February was 41.

Home buyers had 1,046 homes to select from at the end of February, up from February 2010 when 866 homes were on the market. REALTORS® listed 545 homes in February, up seventeen percent from February of 2010 when 465 properties were listed for sale. Home buyers are enjoying improved inventory levels as 1,076 properties have been listed for sale to date this year, up twenty-five percent from 2010.

Home buyers had 1,046 homes to select from at the end of February, up from February 2010 when 866 homes were on the market. REALTORS® listed 545 homes in February, up seventeen percent from February of 2010 when 465 properties were listed for sale. Home buyers are enjoying improved inventory levels as 1,076 properties have been listed for sale to date this year, up twenty-five percent from 2010.

In areas surrounding Saskatoon, sales activity continued to improve with 63 homes selling, up sixty-six percent from February of 2010 when just 38 homes were sold. REALTORS® listed 177 properties in these areas in the month of February. That number is up two percent from February of 2010 when 173 properties were placed on the market. The average number of days to sell in areas around Saskatoon during the month of February was 58.

Optimism in the Saskatoon economy remains high. Evidence of this is seen on numerous fronts. Renters want to purchase, many current home owners are looking to move up and REALTORS® report significant interest from clients wanting to move here from out of province.

An important factor of a strong housing market is the activity experienced in new home sales. Saskatoon’s new home market remains strong with steady city lot sales taking place. Interest rates are favorable to purchase that next home and job creation in the Saskatoon area remains steady. The forecast for the remainder of 2011 is for listing and sales numbers to continue to balance and for resale prices to move up slightly due to demand.

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

The 2011 residential resale market started on a positive note with Saskatoon REALTORS® assisting 195 home buyers with the purchase of their dream home. This number was up ten percent from January of 2010 when 178 homes were sold. The $300,000 to $350,000 price range continues to be the most active. The average number of days to sell in the month of January was 43 days.

The average residential selling price in January was $300,353 up eleven percent from January of last year when it was $270,265.

REALTORS® listed 531 homes in January, up thirty-four percent from the same month last year when 395 properties were listed for sale. Home buyers had 958 homes to select from at the end of January.

In areas surrounding Saskatoon, sales activity was very strong with 57 homes selling, up seventy-three percent from January of 2010 when just 33 homes were sold. REALTORS® listed 214 properties in these areas during the month of January. That’s up sixty percent from January 2010 when 134 properties were placed on the market for sale. The average number of days to sell in areas around Saskatoon during the month of January was 60 days.

The new home market remains strong with steady city lot sales taking place. Interest rates remain unchanged remaining favorable to home sales. Job creation in the Saskatoon area remains steady. The forecast for the remainder of 2011 is for listing and sales numbers to continue to balance and for prices level or move up slightly due to demand.

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

Saskatoon’s housing market has performed as forecasted through the close of 2010. Unit sales activity softened slightly from 2009. The 189 sales recorded last months in represents a 10% decline from December of last year when 210 properties changed hands. The year to date unit sales number stands at 3558, down 7% from the 2009 year end figures when 3819 homes had sold. Saskatoon REALTORS® sold $1,054,512,974 worth of real estate in 2010. This number is down 1% from the 2009 year end figures. The number of days to sell was 48 in December.

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Stable prices should be seen as a positive. It suggests a reasonable balance between buyer demand and sellers wishing to sell their home. The average residential selling price in the month of December was $300,693, up 3% from December 2009 when it was $290,561. The year to date average selling price is $296,378, up 6% from 2009 when it was $278,693.

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274 home owners placed their property on the market in December, up 30% from last December when 211 homes were listed. Year to date, 6757 homes were listed for sale, 5% more than were listed by the close of 2009 when 6459 homes were placed on the market. The market continues to correct from the activity experienced in 2008 when year to date listing numbers stood at 8135. Home buyers had 790 residential properties to select from at the end of December.

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Activity in and around Saskatoon was similar to that of the city. 38 properties sold, down 19% from the strong market in December 2009 when 47 homes changed hands. The average price in these areas in December was $295,905, up 14% from 2009 when it was $258,996. The year to date average selling price was $257,426, on par with 2009. REALTORS® listed 93 homes in the areas around Saskatoon, that number up 11% from December 2009 when 84 homes were offered for sale.

All indicators point to an active Saskatoon housing market in 2011. Optimism begins with the many economic development projects planned not only for Saskatoon but also in many other areas of the province. In migration continues to increase with those moving to Saskatoon contributing to the local economy in many ways in addition to providing a catalyst for the housing market. Even though interest rates have edged up slightly they remain attractive for those needing to mortgage the purchase of a home.

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

Last month, Saskatoon REALTORS® assisted 283 home buyers with the purchase of their dream home. This number was up 12% from November 2009 when 253 homes were sold. The year to date sales number stands at 3,396 down 7 % from the same time last year when 3,609 units had sold. The $300,000 to 350,000.00 price range continues to be the most active. The average number of days to sell in the month of November was 42.

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The average residential selling price in November was $312,893. This number is up 13% from November 2009 when the average selling price was $277,766. The average price year to date is $296,136. That’s up 7% from 2009 at this same time when the average was $278,002.

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Home buyers had 1,045 homes to select from at the end of November, up from November 2009 when 877 homes were on the market. REALTORS® listed 403 homes in November, up 13% from November 2009 when 356 properties were listed for sale.

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In areas surrounding Saskatoon sales activity was steady with 75 homes selling, on par with November 2009. Year to date, REALTORS® have sold 857 homes in these areas, down 5 % from 2009 when the year to date figure stood at 903. REALTORS® listed 154 properties in these areas in the month of November. That number is up 20% from November 2009 when 128 properties were placed on the market for sale. The average number of days to sell in areas around Saskatoon during the month of November was 78.

Fourth quarter unit sale activity is performing as forecast. The new home market remains strong with steady city lot sales taking place. Interest rates have edged up slightly but seem to have had little impact on home sales. Job creation in the Saskatoon area remains steady. The forecast for the remainder of 2010 is for listing and sales numbers to continue to balance and for prices level as well.

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

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.

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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.

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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.

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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

For the month of September unit sales were down by 13% with 304 units selling in Saskatoon as compared to 351 in September of 2009. Year to date unit sales are down 7% with 2,830 properties having sold. The average time on the market was 39 days. The greatest sales activity was in the $300,000 to $350,000 price range.

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The average residential selling price in September was $312,582, up 12% from September 2009 when it was $279,457. Year to date, the average selling price is up 6% and stands at $294,465. The increased average selling price indicates sustained activity in the mid to upper price range. Another contributing factor is with new home construction being active, numerous new homes are being sold through the MLS® system. Often these new homes are in the mid to higher price range impacting the average selling price.

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Year to date, REALTORS® have sold $833,335,308 worth of real estate, down 2% from 2009 when $848,096,579 of real estate had sold by this time. Listing numbers are up 15% from September 2009 with 594 properties being listed last month. Year to date, new listings are up by 3% with 5,626 properties being placed on the market. Home buyers had 1,304 homes to select from at the end of September.

Click the image for a larger version of the graph.

The market also softened somewhat in communities around the city (Martensville, Warman, Clavet and Dundurn, etc.). 79 sales took place, down 34% from September 2009 when 119 homes were sold. The average selling price for September in these communities was $249,825, down 8% from September 2009 when it was $271,401. Listing numbers were down slightly in the month of September with 272 properties being placed on the market, down 7% from September 2009 when 294 homes were listed.

Consumers continue to express their confidence in the local economy as evidenced by their buying patterns. Employment numbers continue to increase. New home construction is doing well, retail sales are strong and when coupled with low interest rates, conditions are favourable for a sustainable market environment. Sales and listing activity is expected to remain similar throughout the fourth quarter.

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