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.
In October, 250 of the 434 home sales exceeded $300,000 compared to 205 last October, nearly a twenty-five percent increase. “The Saskatoon market continues to exhibit signs of strong activity with continued growth in sales and a steady increase in the average sale price,” according to Jason Yochim, Executive Officer with the Saskatoon Region Association of REALTORS®. Three homes sold for more than one million dollars bringing the year to date total to 16, twice that of 2011. “The number sales in Saskatoon year-to-date is up seven percent over the same period last year with the average sale price up six percent to $330,496 compared to $309,249 a year ago,” says Yochim.
Listing activity is on par compared to 2011 with 6,457 homes listed for sale year-to-date in Saskatoon. Currently there are 2,498 active listings in the Saskatoon and surrounding market with 1,146 of these within city limits. “The sales to listing ratio indicates the number of sales related to new listings for a period of time. The year-to-date sales to listing ratio in Saskatoon was fifty-eight percent indicating a balanced market”.
New listings in the rural market surrounding Saskatoon were down five percent year-to-date compared to last year, however total sales were up five percent. The average sale price for rural properties outside Saskatoon was $285,001. This number takes into account sales of acreages and homes in the bedroom communities.
“I expect to see similar activity in the Saskatoon and area market in 2013 reflecting a balanced market and a moderate increase in home prices. Our economic forecast looks good, however, there is still a shortage of skilled trades people in new home construction,” said Yochim.
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