Saskatoon housing market shows impressive gains in first half of 2014: SRAR

The Saskatoon Region Association of Realtors® (SRAR) released the MLS® residential real estate statistics for June of 2014 recently accompanied by the following release.

Please note that many of the association’s comments touch on “year-to-date” numbers, and some may be based on all sales within the association’s full 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.

The Saskatoon and area housing market finished off the first half of 2014 with impressive numbers overall. A total of 7,184 homes were listed on the Multiple Listing Service® so far in 2014 represented an increase of 15 percent over last year.

There was also a healthy increase in sales of 13 percent totalling 3,249 units. "It's encouraging to see strong activity in the Saskatoon market. We need to get comfortable with the 'new normal' that we are experiencing in the growth of our city,” states Jason Yochim, Executive Officer with the Saskatoon Region Association of REALTORS®.

"In spite of these impressive increases in activity, the growth in average price continues to climb at a modest three percent,” said Yochim.

In terms of dollars, the total volume for real estate transactions exceeded 1.1 billion at the end of June, on track to reach $2 billion by year end. The number of days to sell a home in Saskatoon dropped from 40 days a year ago to just 33 days in 2014. "Sellers have to be mindful of averages and consider that the days to sell will vary significantly based on several factors such as condition, location, price range and competing homes" adds Yochim. "The best way to know for sure is to contact a REALTOR® who will have access to key data."

The market surrounding Saskatoon has experienced similar increases this year with a notable increase of 36 percent in property sales in June alone compared to last year. This market includes cities, towns, acreages and rural properties in close proximity to Saskatoon. The average days to sell for this market was 64 days.

Home sales in the higher price ranges continued to show positive signs. The number of homes that have sold between $350,000 and $500,000 increased by 24% while home sales priced between $500,000 and $750,000 increased by 33%. At this time last year, 7 properties sold for over $1 Million compared with 5 so far in 2014. Currently there are 15 properties advertised on the Multiple Listing Service over $1Million.

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.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

Norm Fisher
Royal LePage Saskatoon Real Estate


No comments

Post Your Comment:

Your email will not be published
The Saskatchewan REALTORS® Association (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatchewan REALTORS® Association (SRA) displayed on this site is refreshed every 2 hours.