April’s real estate market continued to correct with fewer listings being taken easing higher than normal inventory levels.
Saskatoon REALTORS® assisted 353 buyers to find their dream home. That number down 15% from April 2008 when 413 units were sold. Unit sales figures were ahead of 2005 and 2006.
REALTORS® placed 694 properties on the market in April that number down 23% from 2008 when 896 homes were listed for sale. Buyers had 1499 properties to select from, down substantially from a market high of 1748 homes for sale in September 2008.
The average selling price for April was $275,455.00 that number down from April 2008 when the average was $306,031.00.
In the month of April the $300 - $350,000.00 price range saw the greatest sales activity with 62 properties being sold. The $225 – 300,000 range was also very active. Upper price range activity remains steady with the following year to date sales figures.
• $350 – 400,000.00 - 90 sales
• $400 – 450,000.00 - 49 sales
• $450 – 750,000.00 - 51 sales
All Indicators point to similar activity for the next few months. The Saskatoon and Saskatchewan economy is a bright spot given the global economic situation. Inventory levels will remain higher than normal for the year but should continue to decline to a more normal number towards year end. Consumer confidence in the local economy, low interest rates and a sustained job market will all contribute to a quicker real estate market recovery.
Drop by early next week when our “Closer look at the Saskatoon real estate statistics for April 2009” 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.
Follow our daily updates on Twitter @Norm_Fisher.
Royal LePage Vidorra