The month of August was very active for Saskatoon REALTORS® selling 415 residential properties, that number up 33% from August 2010 when 311 properties sold. Year to Date unit sales numbers stand at 2,819, that number up 12% from 2010 when they total stood at 2,523. The $300,000 to $350,000 price range continues to be the most active. The average number of days to sell in the month of August was 38 days.
The average residential selling price in August was $315,774.00 this number was up 3% from August 2010 when the average selling price was $306,460.00. At the end of August the year to date average selling price was $306,949.00 up 5% from year to date numbers in August 2010 when the year to date average was $292,519.00.
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.
REALTORS® listed 629 homes in August that number down 2% from August 2010 when 644 properties were listed for sale. Year to date 5,165 homes have been listed for sale that number up 3% from year end August 2010 when 5,032 were placed on the market. Home buyers had 1,315 homes to select from at the end of August, that number down from August 2010 when 1405 were available to purchase.
In areas surrounding Saskatoon e.g. Martensville, Warman, Clavet, etc sales activity was very active with 118 homes selling that number up 31% from August 2010 when 90 homes were sold. REALTORS® listed 247 properties in these areas in the month of August. That number is on par with August 2010 when 248 properties were placed on the market for sale. The average selling price in these areas was $290,641.00 up 12% from August 2010 when the average was $259,338.00. During the month of August in areas surrounding Saskatoon it took 55 days on average to sell a property.
The new home market remains strong with steady city lot sales taking place. Interest rates remain unchanged being favorable to purchase that next home. Job creation in the Saskatoon area remains steady. The forecast for the remainder of 2011 is for listing and sales numbers to continue to balance and for prices to level or move up slightly due to demand.