Home
buying activity was down slightly in the month of July with
357 homes selling down 18 per cent from July 2009 when 438
homes were sold. Year to date unit sale numbers are down four
per cent with 2,217 homes having sold as compared to 2,304
selling in 2009 at this time of year. The majority of the
sales activity remained in the $300,000.00 to $350,000.00
price range.
The
average selling price remained strong at $289,715.00 up two
per cent from July 2009 when the average was $283,531.00. Year
to date the average selling price is $290,515.00 up 5 per cent
from 2009 when the average year to date number was
$277,490.00. The higher average selling price indicates
continued strength in the mid-price range homes. In July it
took 39 days on average to sell a home.
The
average residential price is derived by taking the month’s
dollar volume of homes sold and dividing that number by the
unit sales number. The percentage of change should not be used
unilaterally as prices vary from area to area. Consumers
wishing an accurate estimate of value for their home should
contact a REALTOR® member to do a comparative market
analysis.
Home
buyers had 1,334 properties to select from at the end of July.
Inventory levels decreased from the month of June when 1412
homes were on the market. Listing inventory continues to
balance with REALTORS® listing 550 properties in the month of
July that number down 7 per cent from July 2009 when 594 homes
were placed on the market for sale. Year to date listing
numbers are on par with 2009 with 4,389 having been listed for
sale.
Similar
sales and listing activity was seen in the areas around
Saskatoon e.g. Martensville, Warman, Clavet and Dundurn. Unit
sales softened with 71 properties selling down 34 per cent
from July 2009 when 108 properties sold. The average price
increased to $284,158.00 up 12 per cent from July 2009 when
the average selling price was $254,123.00. Listing numbers
were down 15 per cent with 230 properties being placed on the
market. Year to date 1,643 have been placed on the
market.
Market
demand remains steady, interest rates are favorable and job
growth continues. Similar market conditions are expected for
the remainder of the summer.
