The number of active real estate listings in the Saskatoon and area is down 12% from 2011. At the end of July:
- 2,729 properties for sale (3,085 at same time last year).The change year over year is the result of a 13% increase in the number of sales with no change in the number of new listings when comparing 2011 to 2012.
“In spite of this continuing trend of increasing sales, the increase in the average price is only marginal and still reflects a balanced market," according to Jason Yochim, the Executive Officer of the Saskatoon Region Association of REALTORS®.
- Average residential selling price in Saskatoon has increased 8% year to date to $329,652.
- The price range that experienced the greatest increase in July was the $500,000 to $749,000 range which doubled from 21 in July 2011 to 42 this year. Most other price ranges were similar to last year.
- To date there have been 9 homes selling over $1,000,000 compared to 4 for the same period last year.
- The average selling price in the areas outside of Saskatoon is up only 2% year to date and currently sits at $285,527. Listing activity was down 6% year to date in the communities and areas surrounding the city while sales were up 10%.
“An increase in sales activity in the upper range will definitely cause the average price to be somewhat misleading.” says Yochim, “Average sale price is not the best indicator as this average can swing back and forth depending on what price ranges are most active for the period in question. For accurate pricing, it is always advisable to have an independent property evaluation using comparable market data and conducted by a professional, experienced REALTOR®.”
The Saskatoon Region Association of REALTORS® represents nearly 600 professionally licensed and trained REALTORS® in the Saskatoon region and is dedicated to developing professional standards and competence in the real estate profession in the Saskatoon area.
- Jason Yochim, Executive Officer, Saskatoon Region Association of REALTORS®
If you want to know more about your real estate market or are thinking of buying or selling your home, contact one of our CENTURY 21 Fusion agents.