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.

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Norm Fisher
Royal LePage Saskatoon Real Estate

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale.Less...

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale. Known locally as an impact leader he supports many organizations that serve our community’s most vulnerable people like the Saskatoon Interval House, the YWCA Crisis Shelter, the Lighthouse, the Friendship Inn and others. He has participated in several physically daunting charitable challenges and helped raise over one million dollars for women's shelters across Canada. Additionally, he’s a charter member of 100 Men Who Give a Damn in Saskatoon, a group of local philanthropists who are driven to bring positive change to those in need within our community. Fisher is a licensed real estate broker and owner of Royal LePage Vidorra, a boutique brokerage known for technology and innovation.

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The Saskatoon Region Association of REALTORS® (SRAR) IDX Reciprocity listings are displayed in accordance with SRAR's MLS® Data Access Agreement and are copyright of the Saskatoon Region Association of REALTORS®.
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