Saskatoon real estate sales ‘markedly down’ in February, 2013: SRAR

The Saskatoon Region Association of Realtors® (SRAR) released the MLS® residential real estate statistics for February of 2013today accompanied by the following release.

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

"Sales and listing statistics across the province were markedly down in February when compared to a year ago," according to Jason Yochim, Executive Officer for the Saskatoon Region Association of REALTORS®. Year-to-date the number of homes listed in the Saskatoon market was down 4 percent and sales experienced a 12 percent decline. February activity more closely resembled that of 2011 with 771 new listings and 356 sales in Saskatoon and area. "Although this is the first month in some time that recorded a significant decline in sales activity, Saskatoon fared better than its sister city which saw a 26 percent reduction in sales year-to-date over 2012." Saskatoon’s total MLS® dollar volume to date sits at $205,784,488, seven percent lower than recorded in the first two months of last year.

Click the image for a larger version of the chart.

In spite of this slowdown the average price of a home in the Saskatoon market continued to increase and now sits at $332,269 compared with $314,083 last February. Properties  priced under $350,000 saw a decrease in sales activity while all price ranges above $350,000 were equal to or above last February's numbers. Year-to-date there have been 215 units sold between $300,000 and $400,000, representing approximately one third of the unit sales. The price range experiencing the greatest percentage increase year to date, 60 percent, was $450,000 to $500,000, increasing from 20 units in 2012 to 32 units.

Click the image for a larger version of the chart.

Currently the number of active listings in the Saskatoon central market area sits at 2,331, consistent with the past two years. There are 1,040 active listings within the city of Saskatoon, up six percent for 985 a year ago.

Click the image for a larger version of the chart.

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

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