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

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

Activity was down slightly for Saskatoon REALTORS® in the month of September with 365 residential properties changing hands compared with August, which saw 415 sales. The trend of sales increasing over last year continues however, as we saw a 21% increase over September of 2010 when 301 properties were sold. Year-to-date, total residential sales year are currently at 3183.  That number is up 13% from 2010 when the total stood at 2823 by the end of September. The $300,000 to $350,000 price range continues to be the most active with 82 sales. The average number of days to sell in the month of September was 40.

The average residential selling price in September took a slight dip to $311,057 for a 1% decrease from September of last year when it was $312,914. At the end of September, the year-to-date average selling price was $307,415 up 4% from year-to-date numbers in September 2010 when it was $294,741. Properties listed in September totaled 608, up 2% from the same month a year ago. Year-to-date, 5770 homes have been listed for sale, up 3% from this point last year when 5626 had been placed on the market. Buyers had fewer housing options last month with 1222 homes available at the end of September. At the close of last September 1355 were available to purchase. In areas surrounding Saskatoon (Martensville, Warman, Clavet, etc.) sales activity this September was considerably stronger than last September, with home sales increasing from 79 to 101. REALTORS® listed 281 properties in these areas during the month. That number is up slightly from 2010 when 272 properties were placed on the market. The average selling price in these areas was $281,294, which is up nearly 13% from September 2010 when it was $249,825. During the month of September, in areas surrounding Saskatoon, it took 59 days on average to sell a property. The City of Saskatoon continues to develop new neighborhoods to keep up with the demand for new lots. Recent announcements in the resource sector will continue to bolster optimism in the Saskatchewan economy helping to maintain home pricing and demand. SRAR 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