“The Saskatoon marketplace experienced a 14 percent increase in the number of sales, year-to-date, when compared to the first quarter of 2011,” reports Jason Yochim, Executive Officer of the Saskatoon Region Association of REALTORS® (SRAR) today. At the same time, the number of new listings was down 2 percent year-to-date when compared to 2011. “The total number of listings available in Saskatoon at the end of March was 1053, a decrease of 166 units from the same time a year ago.”
“Sales in all price ranges were strong with the greatest activity occurring in homes priced over $350,000 where sales were up 140 percent year-to-date over 2011. Sales in the $450,000 to $500,000 price range increased 243 percent compared to last March,” said Yochim. “The average year-to-date sale price in Saskatoon continues to rise, increasing by 9 percent to $318,946 while the median sale price was $309,900.”
The market continues to remain in balanced territory in Saskatoon with a sales-to-listing ratio of 54 percent, according to Yochim, “Although the market is in balanced territory, the strong demand for housing is putting upward pressure on pricing. This increase in the average sale price should remain in the 5 – 10 percent range as we approach spring when we traditionally see an increase in the number of listings,” Yochim summarized.
Saskatoon Region Association of REALTORS®
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