Residential Dollar Volume Exceeds $1,000,000,
The total residential dollar volume for 2012 in the city of Saskatoon exceeded $1,000,000,000 by the end of August, two months ahead of last year. The year to year number of transactions is up 9% over last year while the number of new listings is on par with 2011. "Although the sales activity for August was down compared to August of 2011 the average sale price rose 8% to $330,597." According to Jason Yochim, Executive Officer of the Saskatoon Region Association of REALTORS®, "Although August activity slowed slightly, Saskatoon has experienced strong sales overall in 2012 with a total of 4,049 sales in the city compared with 3,718 year to date in 2011." Currently there are a total of 1,234 active listings in Saskatoon which represents just over two listings per REALTOR®.
Sales under $250,000 remained consistent with 2011 while there were considerably more sales above $250,000 which aids in pushing up the average price. "By the end of August there were 251 sales over $500,000 compared with 162 for the same period last year including 9 sales over $1,000,000." Says Yochim.
The rural market surrounding Saskatoon also experienced a slowdown in the number of transactions in August, down 19% when compared to the same month last year. Total unit sales of 775 year to date represents a 5% increase over 2011. The year to date average selling price in the market outside Saskatoon remains virtually unchanged at $282,452.
As market conditions continually change, it is always advisable to have a current property evaluation using comparable market data and conducted by a professional, experienced REALTOR®. "A REALTOR® not only provides current data but more importantly advice specific to each sellers situation."