Sales/Prices up in June/SRAR

June saw an 8% increase in sales compared to last year which is only the second month in 2013 with a positive increase. A total of 2,893 transactions is still down 3% year to date. "Year to date sales activity continues to be strongest over $450,000 with a 28% increase in sales between $500,000 and $750,000 and a 45% increase above $750,000." says Jason Yochim, Executive Officer of the Saskatoon Region Association of REALTORS® "The $300,000 to $350,000 range continues to see the greatest activity with 512 sales year to date, however this is down 8% from last year."

City wide, the average home price continued its upward trend with a 5% increase to $348,000. According to Yochim, "The average price takes an average of all sales and is not an accurate reflection of what is happening in specific markets within the city of Saskatoon. The Home Price Index (HPI) is a more accurate indicator of indexed price changes within an area, specific neighborhood or type of property." The west side of Saskatoon which includes neighborhoods such as Caswell, Mount Royal, Pleasant Hill and Riversdale, saw the greatest percentage change at 6.38%. The neighborhoods which saw the smallest change in value were those west of the Circle Drive freeway at 3.34%. "With the HPI, our members are able to provide their clients with accurate data specific to their style of home and neighborhood which indicates how the market is trending for those properties."

The number of days required for a home to sell on average was 40 in Saskatoon. This represents a significant change compared to May where a home would sell in 27 days on average. The neighborhoods east of circle drive took the longest to sell on average at 48 days.

Overall the outlook remains strong for Saskatoon with a balanced real estate market. Saskatoon's modest but steady increase in values and activity insulates it from the dramatic price corrections experienced by some major Canadian cities

Dwain Anderson

Dwain Anderson

CENTURY 21 Fusion
Contact Me

Blog Archives