In
2012 we are starting out with a market that favors sellers.
The number of residential properties listed in Saskatoon was
528 units, down only one per cent from last January while the
MLS® sales were up 20 per cent to 310 units. This resulted in
an increase in the average selling price of 6 per cent to
$318,163.00. There were a total of 951 active listings for
January 2012 which was also down one per cent from last
January.
The
$300,000.00 to $349,999.00 price range recorded the most sales
at 68 units, an increase of 51 per cent from 45 units in
January 2011. The highest average sale price of $377,757.00
remains in the neighborhoods on the far east side of Saskatoon
which also has the most active listings and units
sold.
It
is important to note that the average residential sale price
is determined by taking the total month’s dollar volume and
dividing that number by the total unit sales number from
across the entire city of Saskatoon. The average sale price
and percentage change should not be applied unilaterally as
prices vary based on style of home, location and condition.
Consumers wishing an accurate estimate of value for their home
should contact a REALTOR® member to interpret sales data and
provide a comparative market analysis tailored to their
specific property.
Activity
was slower in the areas surrounding Saskatoon. There were only
185 residential properties listed compared to 213 properties
in January 2011 for a decrease of 13 per cent. The number of
sales was down 26 per cent from 57 to 42 units’ year over
year. In spite of this quieter activity the average
residential sales price in the areas surrounding Saskatoon was
up three per cent from last January to $279,171.00.
The
number of days to sell remained almost unchanged at 46 days
within Saskatoon while listings in the area surrounding
Saskatoon took 75 days on average to sell which is an increase
of 25 per cent. The area with the shortest time to sell
continues to be the north end west of the river at 33 days on
average.
If
the supply of product continues to remain consistent with last
year and if the anticipated increase in demand occurs, our
city will remain in a sellers’ market with buyers competing
for their purchases. It is expected that Saskatoon will
continue to buck the softening price and activity trend taking
place across Canada
.
