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Saskatoon housing sales activity improves further in May, 2014: SRAR

Overall activity in the Saskatoon real estate market is up year-to-date with a 15 percent increase in listing activity and a 10 percent increase in sales. The most active price range continues to be with homes priced under $450,000.


Listing activity continued to be strong in May with 945 new properties added to the market. The total number of homes placed on the Multiple Listing Service® (MLS®) year-to-date was 3,809, a 15 percent increase over 2013. Currently there are 3,178 properties available in the Saskatoon and area market with half of these homes in the city limits. With the total number of sales, year to date for Saskatoon and area at 2,528 units, Saskatoon is considered to be in a balanced market position overall with the sales to listing ratio at 52 percent.


The average sale price in Saskatoon year-to-date is just over $353,000 which is a three percent increase over the same period last year. By comparison, the median sale price is $340,000. According to the MLS® Home Price Index, the composite benchmark price for a typical single family home in Saskatoon is $327,000. This figure has been slowly trending upward since it saw a slight decline late in 2013. The index is similar to the Consumer Price Index which measures the trending value of a typical home measuring change in value over time.


The average time to sell a home on the MLS® system in Saskatoon is currently 36 days. "The ratio of sales to listings, inventory levels and days to sell will vary greatly depending on the area and price range,” according to Yochim.


There are more builders' homes now available on the MLS® in an attempt to increase exposure to the market. Based on a 36 percent increase in home sales between $500,000 and $750,000 in May, it appears that the strategy by home builders in placing their product on the MLS® is working. "Statistically, greater exposure through the MLS® results in stronger activity, less days to sell and a higher sale price,” states Jason Yochim, Executive Officer with the Saskatoon Region Association of REALTORS®.


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.

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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