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.
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