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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

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale.Less...

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale. Known locally as an impact leader he supports many organizations that serve our community’s most vulnerable people like the Saskatoon Interval House, the YWCA Crisis Shelter, the Lighthouse, the Friendship Inn and others. He has participated in several physically daunting charitable challenges and helped raise over one million dollars for women's shelters across Canada. Additionally, he’s a charter member of 100 Men Who Give a Damn in Saskatoon, a group of local philanthropists who are driven to bring positive change to those in need within our community. Fisher is a licensed real estate broker and owner of Royal LePage Vidorra, a boutique brokerage known for technology and innovation.

Note: We are in the process of bringing this blog home to the TeamFisher.com domain and we have a lot of stuff to move! Another 700 posts can be found at normfisher.com where they'll remain until we can get them moved here.

The Saskatoon Region Association of REALTORS® (SRAR) IDX Reciprocity listings are displayed in accordance with SRAR's MLS® Data Access Agreement and are copyright of the Saskatoon Region Association of REALTORS®.
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
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