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Saskatoon residential real estate sales and prices increase through 2012: SRAR

The Saskatoon Region Association of Realtors® (SRAR) released the MLS® residential real estate statistics for December of 2012today 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 association’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.


The strong Saskatchewan economy in 2012 was reflected in real estate sales with a year-over-year increase in the average sale price of seven percent and an increase of five percent in units sold. “Sales activity was quite strong in the first two quarters of 2012 compared to the latter half of the year. This cooling off is most likely a reflection of the federal governments changes to the mortgage rules in June,” says Jason Yochim, Executive Officer with the Saskatoon Region Association of REALTORS® (SRAR). “The most notable decrease in sales activity since July 1 showed up in the price ranges below $400,000.”


The average sale price for a home in Saskatoon sat at just under $332,000 at the end of December while the median price hovered around $325,000. Comparatively, the average price in the rural market surrounding Saskatoon remained virtually unchanged with an increase of only one percent for the year. Sales in the rural market were up five percent over 2011 while the number of new properties listed dipped by four percent.


Click images for a larger view.


“At the end of December, the number of active listings on the SRAR MULTIPLE LISTING SERVICE® was at 1,793 which is a decrease of eight percent from the previous year,” says Yochim. Unit sales slightly outpaced new listings resulting in a decrease in available property for consumers to choose from. Builders have been working hard at filling this shortfall, however more product on the existing market would be timely and welcome. “The shortfall is not significant enough to push us out of a balanced market at this point with prices only increasing seven percent over the year”.


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®.
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
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