Saskatoon home sale numbers down and average selling prices up: SRAR

The Saskatoon Region Association of REALTORS® (SRAR) released the residential real estate statistics for August of 2010today, accompanied by this release.

Saskatoon REALTORS® assisted 313 buyers with the purchase of a home in the month of August. This number was down 20% from August 2009when 392 homes were sold. Year to date, 2527 homes have changed hands, down 6% from 2009 when year to date numbers stood at 2696. The increase in new home sales has somewhat impacted the resale market.

Click the image for a larger version of the graph.

Increased sales activity in the mid to upper price range homes contributed to the 8% rise in the average selling price in August which stood at $305,866. The average selling price in August 2009 was $282,320. The year to date figure stands at $292,323, up 5% from 2009 when it was $278,193. The highest sales activity remains in the $300,000 to $350,000 price range.

Click the image for a larger version of the graph.

645 properties were placed on the market in the month of August, up 25% from August 2009 when 517 homes were listed. The year to date listing number stands at 5033. Home buyers had 1355 homes to select from at the end of August, on par with last monthwhen 1334 homes were for sale.

Click the image for a larger version of the graph.

In areas surrounding Saskatoon (Warman, Martensville, Delisle, etc.) unit sales were down 6% with 90 properties selling as compared to the same month last year when 96 homes sold. The average selling price was $259,338, down 4% from August 2009 when it was $270,488. Listing numbers were up 25% in the areas around Saskatoon with 248 properties being listed compared to 199 in August 2009.

Residential sale numbers are expected to remain on par or soften slightly for the remainder of the year. Interest rates are favourable, confidence remains strong in the local economy and new home sales continue to build momentum. These are all necessary components to maintain a stable market environment.

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.

Norm Fisher
Royal LePage Vidorra

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