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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

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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