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East-side sales lead the Saskatoon real estate market in July, 2013: SRAR

The Saskatoon Region Association of Realtors® (SRAR) released the MLS® residential real estate statistics for July of 2013today accompanied by the following release.


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.


Sales activity in Area One, which is the residential development east of Circle Drive, is the only area showing a positive increase in the number of unit sales at 3% year-to-date. All other areas of the city had slight decreases with the exception of the north end which showed a more substantial decrease of 12% or 271 unit sales compared to 309 at the end of July 2012. "There is more selection in Area One with many existing and new neighborhoods to choose to live," according to Jason Yochim, Executive Officer with the Saskatoon Region Association of REALTORS®.


Active listings are up 8% from last year with 1,338 homes available in the Saskatoon market place. Sales were also up 8% in July with 620 transactions taking place and an average time on the market of 35 days which is a drastic change from the average of 63 days last July. "Despite some speculation that the Saskatoon economy is slowing, the real estate market proved otherwise with a very active July," explains Yochim. "Typically we see a decrease in activity during the month of July being that many residents are away. Most of the sales occurred in the price range between $350,000 and $400,000 with 490 transactions in the first seven months of the year."


The average sale price in Saskatoon inched up slightly by 3% to just under $342,000. The market remains balanced with a total of 4,846 homes listed in Saskatoon year-to-date with 2,623 of these selling for a sales to listing ratio (percentage of listings that result in a sale) of 54%.


The areas surrounding Saskatoon, including several growing "bedroom" communities continue to show strong activity with an increase in the number of sales by 7% over the same period last year. The average selling price in the surrounding areas is just over $300,000 which is a 5% increase from last year. "As communities like Warman and Martensville continue to add neighborhoods and amenities, their pace of growth will continue to be strong," adds Yochim. "The down side to this growth however is an increased demand on infrastructure and services."


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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