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Saskatoon home sales soften slightly while prices remain strong: SRAR

The Saskatoon Region Association of REALTORS® (SRAR) released the residential real estate statistics for April, 2011today, accompanied by this release.


April’s residential real estate sale market softened somewhat with 343 homes selling compared to the 369 homes that sold in April of 2010. The greatest sales activity occurred in the $300,000 to $350,000 price range. The average number of days to sell in the month of April was 36, pointing to an active and steady market environment.



The average residential selling price in April was $315,866. This number is up 6% from April of 2011 when it was $298,481. The increase in the average selling price is indicative of strong sales activity in the mid to upper price ranges. Year-to-date, the average selling price date stands at $299,843 up 4% from last year at this time when it was $287,464.



Inventory levels continued to correct during the month of April. Home buyers had 1300 homes to select from at the end of the month, up slightly from April 2010 when 1258 homes were on the market. REALTORS® listed 634 homes in April. That number was down 19% from April 2010 when 784 properties were listed for sale. Year-to-date, 2403 properties have been listed for sale, on par with 2010 when 2,383 were placed on the market for sale by this time. Inventory levels remain steady providing home buyers with a reasonable number of homes to select from.



In areas surrounding Saskatoon home sale activity also softened slightly with 93 homes selling as compared to 113 homes selling in April of 2010. REALTORS® listed 296 properties in these areas in the month of April. That number is up 3% from April of 2010 when 288 properties were placed on the market for sale. The average number of days to sell in the areas around Saskatoon during the month of April was 65.


Optimism in Saskatoon’s economy remains high, which in turn is reflected in consumer’s willingness to invest both in residential and commercial real estate. Renters want to purchase, many current home owners are looking to move up and REALTORS® also report significant interest from clients wanting to move to Saskatoon from out of province.


An important factor of a strong housing market is the activity experienced in new home sales. Saskatoon’s new home market remains strong with steady city lot sales taking place. Interest rates are favorable to purchase that next home and job creation in the Saskatoon area remains steady. The forecast for the remainder of 2011 is for listing and sales numbers to continue to balance and for resale prices to move up slightly due to demand.


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

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.
 

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.

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