All Residential Sales Statistics Up in the Month of July
The month of July was active for Saskatoon REALTORS® selling 403 residential properties that number up 13% from July 2010 when 356 properties sold. Year to Date unit sales numbers stand at 405, that number up 9% from 2010 when the total stood at 2,212. 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 July was 35 days.
The average residential selling price in July was $303,439.00 this number was up 4% from July 2010 when the average selling price was $290,411.00. At the end of July the year to date average selling price was $305,419.00 up 5% from year to date numbers in July 2010 when the year to date average was $290,559.00.
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 603 homes in July that number up 10% from June 2010 when 549 properties were listed for sale. Year to date 4536 homes have been listed for sale that number up 3% when 4,388 being placed on the market. Home buyers had 1405 homes to select from at the end of July that number down from June 2011 when 1430 were available to purchase.
In areas surrounding Saskatoon e.g. Martensville, Warman, Clavet, etc sales activity was very active with 96 homes selling that number up 37% from July 2010 when 70 homes were sold. REALTORS® listed 619 properties in these areas in the month of July. That number is up 15% from June 2010 when 536 properties were placed on the market for sale. The average selling price in these areas was $289,037.00 up 2% from July 2010 when the average was $284,388.00. During the month of July in areas surrounding Saskatoon it took 63 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 level or move up slightly due to demand.
Harry H. Janzen, CAE, CRAE
Saskatoon Region Association of REALTORS®