Listings up, sales volume down, average price of Saskatoon homes rises: SRAR

This release regarding Saskatoon real estate activity for the month of June was just released by the Saskatoon Region Association of REALTORS® (SRAR).

Home buyers enjoyed an increased level of inventory to select from in the month of June. Saskatoon REALTORS® listed 905 residential homes during the month of June that number up 49% from June 2007 when 609 properties were placed on the market for sale.

REALTORS® assisted 321 buyers to purchase their next home that number down 33% from June 2007 when 479 properties were purchased. June’s sales number brings sales activity more in line with 2006 when 385 homes were purchased and 2005 and 2004 when 352 properties were sold in June. Year to date 2,156 homes have been purchased.

The average residential sales price in June was $310,386.00. That number up 23% from last spring’s more than active market when the average sales price was $252,703.00. The year to date average selling price is $289,165.00 up 32% from 2007.

In the month of June Saskatoon REALTORS® sold $99,633,000.00 of real estate that number down 18% from 2007 when they sold $121,004,000.00 of real estate. Year to date $623,438,000.00 of real estate has exchanged hands.

The average residential price is derived by taking the month’s dollar volume of homes sold and dividing that number by the unit sales number. The percentage of change should not be used unilaterally as prices vary from area to area. Consumers wishing an accurate estimate of value for their home should contact a REALTOR® member to do a comprehensive market evaluation.

Home sales in areas surrounding Saskatoon were down 22% in the month of June with 87 units selling as compared to June 2007 when 111 units exchanged hands. The average selling price in areas around Saskatoon increased to $207,180.00 that number up by 4% from 2007.

Similar market conditions exist in other western provinces for example Edmonton Alberta where the average price for a single-family home was $381,384.00 that number down 8.6% from June 2007. Unit sales are also down 17% with just over 2000 homes selling in June.

Strong optimism in the Saskatchewan economy continues to fuel in migration and housing industry activity. The Saskatoon and area job market remains strong, which generally influences home buying and new home building.

Read also: Average price of Saskatoon home rises: Kassandra Kyle, Star Phoenix

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.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Vidorra

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