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March of 2013 brings improvement in Saskatoon real estate market activity: SRAR

The Saskatoon Region Association of Realtors® (SRAR) released the MLS® residential real estate statistics for March 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.


As expected, Saskatoon real estate sales activity was up considerably in March compared to February with an increase of 21 percent in listings and a 35 percent increase in sales. "Spring is typically the most active time of the year for real estate. The winter was long and with all the snow, most buyers and sellers preferred to wait for more suitable conditions unless they had to make a move," comments Jason Yochim, Executive Officer for the Saskatoon Region Association of REALTORS®. Market activity in March was comparable to March of 2012 with 934 new listings and 480 property sales. At the end of the first quarter, the number of properties listed in Saskatoon and area was 5% lower than last March (344 versus 368 last year).


Click the image for a larger version of the chart.

Five year history of Saskatoon residential real estate sales to March, 2013

Click the image for a larger version of the chart.


Five year history of active Saskatoon MLS listings to March, 2013


The average sale price in Saskatoon continued its upward trend at the modest rate of three percent to $336,100. The average price a year ago in Saskatoon was $326,800. "Averages can be misleading," warns Yochim. "An average price is just that, an average of all sales across the entire market place, and can be easily skewed by many factors. The good news is the market is healthy with a strong demand for homes in the $250,000 to $400,000 range." 


Activity in the $275,000 to $400,000 price range continues to be down from last year, this is largely due to a shortage of product in this price range. Unit sales in the $450,000 to $500,000 price range saw a 43 percent increase, year-to-date. Overall, year-to-date sales were down eight percent in the first quarter of 2013 resulting in a four percent reduction in the total dollar volume of $362,974,828.


Click the image for a larger version of the chart. Five year history of average Saskatoon home prices to March, 2013


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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