Residential home sales remained steady in the month of May. Saskatoon REALTORS® sold 372 homes in the month of May that number up 2% from May 2008 when 363 homes were sold. Year to date 1,428 homes have sold, that number down 22% from 2008 when 1832 homes sold. May’s number indicates somewhat of a recovery in market place activity. Dollar volume for May was $103,965,000 down 5% from 2008 when $109,610,000.00 of real estate was sold.
Listing inventory continued to correct last month, REALTORS® listing 721 properties down 29% from May 2008 when 1014 properties were placed on the market. Year to date 3156 homes have been listed for sale that number down 7% from 2008 when 3406 properties were placed on the market. Home buyers had 1532 homes to select from at the end of May.
The average selling price was up from years prior to 2008.
• 2009 - $279,477.00
• 2008 - $301,957.00
• 2007 - $233,404.00
• 2006 - $162,489.00
• 2005 - $145,548.00
• 2004 - $135,532.00
Sales activity in communities around Saskatoon remained steady. REALTORS® sold 97 properties, that number up 13% from 2008 when 86 homes were sold. The average price is up slightly at $238,904.00, as compared to 2008 when the average was $233,906.00. Year to date the average price is up 5% at $241,080.00.
Summer sales and listing activity is expected to remain similar as the market continues to correct with excess inventory moving through the system. Saskatoon has been somewhat effected by the global recession but all indicators point to the local market remaining steady in the next few months.
Drop by early next week when our “Closer look at the Saskatoon real estate statistics for May” will be posted. It includes a more extensive overview of unit sales, prices and active listings of single-family homes and condominiums.
I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call or email.
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Norm Fisher
Royal LePage Vidorra