Activity was down slightly for Saskatoon REALTORS® in the month of September with 365 residential properties changing hands compared with August which saw 415 sales. The trend of sales increasing over last year continues however as we saw a 21% increase over September 2010 when 301 properties sold. Total residential sales Year to Date is currently at 3,183, that number up 13% from 2010 when the total stood at 2,823 for the end of September. The $300,000 to $350,000 price range continues to be the most active with 82 sales. The average number of days to sell in the month of September was 40 days.
The average residential selling price in September took a slight dip to $311,057.00 reflecting a 1% decrease from September 2010 when the average selling price was $312,914.00. At the end of September the year to date average selling price was $307,415.00 up 4% from year to date numbers in September 2010 when the year to date average was $294,741.00.
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 September totaled 608 up 2% from the same month a year ago. Year to date 5,770 homes have been listed for sale up 3% from year end September 2010 when 5,626 were placed on the market. Buyers had less to choose from with 1,222 available at the end of September, that number down from September 2010 when 1355 were available to purchase.
In areas surrounding Saskatoon e.g. Martensville, Warman, Clavet, etc sales activity this September was considerably stronger than last September, increasing from 79 to 101 homes sold. REALTORS® listed 281 properties in these areas in the month of September. That number up slightly from 2010 when 272 properties were placed on the market for sale. The average selling price in these areas was $281,294.00 up nearly 13% from September 2010 when the average was $249,825.00. During the month of September in areas surrounding Saskatoon it took 59 days on average to sell a property.
The City of Saskatoon continues to develop new neighborhoods to keep up with the demand for new lots. Recent anouncemets in the resource sector will continue to bolster optimism in the Saskatchewan economy helping to maintain home pricing and demand