2011 Residential Sales Market Begins on a Positive Note
The 2011 residential resale market started on a positive note with Saskatoon REALTORS® assisting 195 home buyers with the purchase of their dream home. This number was up 10 % from January 2010 when 178 homes were sold. 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 January was 43 days.
The average residential selling price in January was $300,353.00 this number up 11 % from January 2010 when the average selling price was $270,265.00.
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 531 homes in January that number up 34% from January 2010 when 395 properties were listed for sale. Home buyers had 958 homes to select from at the end of January.
In areas surrounding Saskatoon sales activity was very active with 57 homes selling that number up 73% from January 2010 when 33 homes were sold. REALTORS® listed 214 properties in these areas in the month of January. That number is up 60 % from January 2010 when 134 properties were placed on the market for sale. The average number of days to sell in areas around Saskatoon during the month of January was 60 days.
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.
Saskatoon Region Association of REALTORS® Inc
Demand for Residential Housing Softened Slightly
For the month of September unit sales were down by 13% with 304 units selling as compared to 351 units selling in September of 2009.Year do date unit sales are down 7% with 2,830 units having sold. The average time on the market was 39 days. The greatest sales activity remains in the $300,000.00 to $350,000.00 price range.
The average residential selling price in September was $312,582.00 up 12% from September 2009 when the average selling price was $279,457.00. Year to date the average selling price is also up 6% and stands at $294,465.00. The increased average selling price indicates sustained activity in the mid to upper price range. Another contributing factor is with new home construction being active numerous new homes are being sold through the MLS® system. Often these new homes are in the mid to higher price range impacting the average selling price.
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.
Year to date REALTORS® have sold $833,335,308.00 of real estate down 2% from 2009 when year to date $848,096,579.00 of real estate had sold. Listing numbers are up 15% from September 2009 with 594 properties being listed in September. Year to date the listings taken number is up by 3% with 5,626 properties being placed on the market. Home buyers had 1,304 homes to select from at the end of September.
The market softened somewhat in communities around the city. Unit sales in e.g. Martensville, Warman, Clavet and Dundurn had 79 sales take place down 34% from September 2009 when 119 homes were sold. The average selling price for September in these communities was $249,825.00 that number down 8% from September 2009 when the average was $271,401.00. Listing numbers were down slightly in the month of September with 272 properties being placed on the market down 7% from September 2009 when 294 homes were placed on the market for sale.
Consumers continue to express their confidence in the local economy as evidenced by their buying patterns. Employment numbers continue to increase. New home construction is doing well, retail sales are strong and when coupled with low interest rates conditions are favourable for a sustainable market environment. Sales and listing activity is expected to remain similar throughout the fourth quarter.
Saskatoon Region Association of REALTORS®
SRAR releases Saskatoon market update for August 2010
Residential Home Sale Numbers Down - Average Selling Price Up
Saskatoon REALTORS® assisted 313 buyers with the purchase of a home in the month of August. This number was down 20% from August 2009 when 392 homes were sold. Year to date 2,527 homes have sold, down 6% from 2009 when year to date numbers stood at 2,696. The increase in new home sales has somewhat impacted the resale market. Increased sales activity in the mid to upper price range homes contributed to the 8% rise in the average selling price in August which stood at $305,866.00. The average selling price in August 2009 was $282,320.00. The year to date figure stands at $292,323.00 up 5% from 2009 when the average was $278,193.00. The highest sales activity remains in the $300,000.00 to $350,000.00 price range. 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. 645 properties were placed on the market for sale in the month of August; this number is up 25% from August 2009 when 517 homes were listed for sale. The year to date listing number stands at 5,033. Home buyers had 1,355 homes to select from at the end of August on par with last month when 1,334 homes were for sale. In areas surrounding Saskatoon e.g. Martensville Warman and Dundurn unit sales were down 6% with 90 properties being bought as compared to August 2009 when 96 homes were purchased. The average selling price was $259,338.00 down 4% from August 2009 when the average was $270,488.00. Listing numbers were up 25% in the areas around Saskatoon with 248 properties being listed as compared to 199 in August 2009. Residential sale numbers are expected to remain on par or soften slightly for the remainder of the year. Interest rates are favourable, confidence remains strong in the local economy and new home sales continue to build momentum. These are all necessary components to maintain a stable market environment. Saskatoon Region Association of REALTORS®
From Saskatoon Region Association of REALTORS® Inc
Residential Home Sales Soften in the Month of July
Home buying activity was down slightly in the month of July with 357 homes selling down 18% from July 2009 when 438 homes were sold. Year to date unit sale numbers are down 4% with 2,217 homes having sold as compared to 2,304 selling in 2009 at this time of year. The majority of the sales activity remained in the $300,000.00 to $350,000.00 price range.
The average selling price remained strong at $289,715.00 up 2% from July 2009 when the average was $283,531.00. Year to date the average selling price is $290,515.00 up 5% from 2009 when the average year to date number was $277,490.00. The higher average selling price indicates continued strength in the mid price range homes. In July it took 39 days on average to sell a home.
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.
Home buyers had 1,334 properties to select from at the end of July. Inventory levels decreased from the month of June when 1412 homes were on the market. Listing inventory continues to balance with REALTORS® listing 550 properties in the month of July that number down 7% from July 2009 when 594 homes were placed on the market for sale. Year to date listing numbers are on par with 2009 with 4,389 having been listed for sale.
Similar sales and listing activity was seen in the areas around Saskatoon e.g. Martensville, Warman, Clavet and Dundurn. Unit sales softened with 71 properties selling down 34% from July 2009 when 108 properties sold. The average price increased to $284,158.00 up 12% from July 2009 when the average selling price was $254,123.00. Listing numbers were down 15% with 230 properties being placed on the market. Year to date 1,643 have been placed on the market.
Market demand remains steady, interest rates are favorable and job growth continues. Similar market conditions are expected for the remainder of the summer.
Saskatoon Region Association of REALTORS® Inc
1149-8th Street East, Saskatoon, Sk S7H 0S3 TEL: (306) 244-4453 FAX: (306) 343-1420 www.srar.ca info@srar.ca Mission: "To Support our Members Professional Success, Career Development and Quality of Life"
Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTORS®) and/or the quality of services they provide (MLS®). Used under license
The second quarter of 2010 ended with 1,863 year to date residential unit sales on par with 2009. The unit sales number for the month of June declined by 17% with 364 properties being sold as compared to 441 properties selling in June 2009. However the average selling price in June was $295,963.00 up 7% from June 2009 when the average was $276,194.00. This increase indicates strong activity in the mid to upper price range of homes. The $300,000 to 350,000.00 price range continues to experience the greatest sales activity
The average residential selling 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 676 homes in the month of June a similar number to June 2009 when 669 homes were placed on the market. Year to date listing numbers are on par with 3,838 properties being listed for sale. Consumers had 1,412 homes to select from at the end of June.
Sales activity in the smaller communities around Saskatoon e.g. Martensville, Warman, Dundurn remained very balanced with 101 units selling. That number was up 3% from June 2009. The average selling price was up 1% at $254,203.00, the year to date average selling price in these areas is up 4% at $252,788.00. Listing numbers were down 4% with 246 properties being placed on the market for sale as compared to 257 in June 2009.
Similar market activity is expected in the third quarter. New home sales are brisk, interest rates remain attractive, job creation continues to increase and regular in migration is taking place. In addition consumer confidence in the local economy also remains strong. All of these are necessary components of a healthy real estate market environment.
Saskatoon Region Association of REALTORS® Inc
1149-8th Street East, Saskatoon, Sk S7H 0S3 TEL: (306) 244-4453 FAX: (306) 343-1420 www.srar.ca info@srar.ca Mission: "To Support our Members Professional Success, Career Development and Quality of Life"
Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTORS®) and/or the quality of services they provide (MLS®). Used under license
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