November market stats/SRAR

 

Residential sales activity for Saskatoon REALTORS® in the month of November was 286, virtually unchanged when compared with November of 2010 which saw 282 sales. This number was also only down slightly from October when 309 properties changed hands. Total residential sales Year to Date sits at 3,776 up 12% from 2010 when the total stood at 3,365 for the end of November. The $300,000 to $350,000 price range continues to be the most active with 64 sales. The average number of days to sell in the month of November was 47 days.

The average residential selling price in November this year was $314,541.00 which was only a 1% increase from the average sale price in November 2010. The year to date average selling price was up 5% from the year to date average in November 2010 which was $296,222.00.

 

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.

 

Properties listed in November totaled 451 up 12% from the same month a year ago. Year to date 6,777 homes have been listed for sale up 5% when compared to 6,483 listings year to date in November 2010. There were a total of 1,084 active residential listings available at the end of November representing a 4% increase compared to the active listing in November 2010.

 

The number of sales in areas surrounding Saskatoon e.g. Martensville, Warman, Clavet, etc sales this past November was down 5% from the 75 homes that sold in November 2010. REALTORS® listed 132 properties in these areas in the month of November. This is a notable decrease of 14% from November 2010 when 154 properties were placed on the market for sale. The average selling price in these surrounding areas was $277,797.00 up 7% from November 2010 when the average was $258,960.00. During the month of November in areas surrounding Saskatoon it took 60 days for a property to sell on average.

 

In summary the year to date activity Saskatoon market continues to remain steady with moderate increases to market values and sales volume. The upward trend is expected to continue with positive announcements on almost a daily basis in the resource sector. The challenge continues for city of Saskatoon as well as surrounding communities to meet the demand for serviced lots.

 

Dwain Anderson

Dwain Anderson

REALTORĀ®
CENTURY 21 Fusion
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