Saskatoon. December 4, 2012.
The year to date sales in the Saskatoon and area market at the end of November was up 7% compared a year ago. The listing activity in November was equal to 2011 bringing the total number of homes listed year to date to 10,455 homes which is on par with a year ago. "The slight increase in selling activity relative to listing activity continues to put slight pressure on prices bringing our average price in Saskatoon up to $331,500 compared to $309,500 a year ago" says Jason Yochim, Executive Officer with the Saskatoon Region Association of REALTORS®. "We are continuing to see a strong but balanced real estate market in Saskatoon and area." added Yochim. This is reflected in the total dollar volume which reached 1.7 billion compared to 1.5 billion last year.
Currently there are 1,063 active properties available in the Saskatoon market place and 805 properties in areas surrounding Saskatoon. The sales to listing ratio in Saskatoon is 61% compared to 45% in the communities and acreages surrounding Saskatoon.
The average sale price for homes surrounding Saskatoon currently sits at $283,606, virtually the same as it was a year ago. New listings in the rural market surrounding Saskatoon were down 5% year to date compared to last year however total sales were up 4%. The acreages and communities outside Saskatoon have consistently seen a decrease in listing activity every month this year at an average rate of 5%.
"We are fortunate in these economic times to be located where we are." Says Yochim," The economy is diverse and strong, demand is steady, prices are increasing but not out of control. If I would like to see anything change in 2013 it would be a few more properties available for our buyers to choose from."