Slightly quieter Saskatoon residential real estate market in October, 2011: SRAR

The Saskatoon Region Association of REALTORS® (SRAR) released the residential real estate statistics for October, 2011today, accompanied by this release.

Heading into the fall, activity was down slightly for Saskatoon REALTORS® in the month of October with 309 residential properties changing hands compared with September which saw 365 sales. The trend of sales increasing over the same month last year continues however as we saw a 19% increase over October 2010 when 260 properties sold. Currently the total residential sales to date this year is 3,491 up 13% from 2010 when the total stood at 3,083 for the end of October. The $300,000 to $350,000 price range continues to be the most active with 80 sales. The average number of days to sell in the month of October was 41.

The average residential selling price in October increased to $327,245 from $294,133 in October of 2010 reflecting an 11% increase. At the end of October, the year-to-date average selling price was $309,197 up 5% from year-to-date numbers at this point in 2010 when it was $294,690. Properties listed in October totaled 557, up 23% from the same month a year ago. Year-to-date, 6,326 homes have been listed for sale, up 4% from this time in 2010 when 6,080 had placed on the market. There were a total of 1,172 active listings available at the end of October, down just slightly from October 2010 when 1,219 were available to purchase. There was a slight increase in sales activity in areas surrounding Saskatoon (e.g. Martensville, Warman, Clavet, etc.) this October with 82 sales compared with 76 homes sold in October 2010. REALTORS® listed 223 properties in these areas in the month of October. That number is up 18% from 2010 when 189 properties were placed on the market. The average selling price in these areas was $276,475 up 12% from October 2010 when the average was $245,778. During the month of October in areas surrounding Saskatoon it took 64 days for a property to sell on average. New construction continues to be strong in the City of Saskatoon and outlying communities. The employment opportunities remain strong attracting individuals to our area from across Canada as well as from outside our borders. 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. Norm Fisher Royal LePage Vidorra