Saskatoon
REALTORS® assisted 313 buyers with the purchase of a home in
the month of August. This number was down 20 per cent from
August 2009 when 392 homes were sold. Year to date 2,527 homes
have sold, down six per cent from 2009 when year to date
numbers stood at 2,696. The increase in new home sales has
somewhat impacted the resale market.
Increased
sales activity in the mid to upper price range homes
contributed to the 8 per cent rise in the average selling
price in August which stood at $305,866.00. The average
selling price in August 2009 was $282,320.00. The year to date
figure stands at $292,323.00 up five per cent from 2009 when
the average was $278,193.00.
The
highest sales activity remains in the $300,000.00 to
$350,000.00 price range.
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.
In
the month of August, 645 properties were placed on the market
for sale; this number is up 25 per cent from August 2009 when
517 homes were listed for sale. The year to date listing
number stands at 5,033. Home buyers had 1,355 homes to select
from at the end of August on par with last month when 1,334
homes were for sale.
In
areas surrounding Saskatoon e.g. Martensville Warman and
Dundurn unit sales were down 6 per cent with 90 properties
being bought as compared to August 2009 when 96 homes were
purchased. The average selling price was $259,338.00 down 4
per cent from August 2009 when the average was $270,488.00.
Listing numbers were up 25 per cent in the areas around
Saskatoon with 248 properties being listed as compared to 199
in August 2009.
Residential
sale numbers are expected to remain on par or soften slightly
for the remainder of the year. Interest rates are favourable,
confidence remains strong in the local economy and new home
sales continue to build momentum. These are all necessary
components to maintain a stable market
environment.
