About Saskatoon's Saskatoon Real Estate

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

Saskatoon Region Association of REALTORS® Inc

Saskatoon's real estate market maintained its momentum throughout the first quarter. Unit sales were up 28% from March 2009 with 361 homes being sold as compared to March 2009 when 282 units were sold. Year to date 775 properties have exchanged hands that number up 10% from 2009 when 704 properties exchanged hands. The average days on market has dropped to 30 days with some areas having as low as 22 days to sell on average.

The average residential selling price in March was $282,615.00 up 6% from March 2009 when the average selling price was $266,620.00. The average selling price year to date is $282,270.00 up 3% from 2009 when the average price was $274,555.00. The highest number of sales year to date has taken place in the $300 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.

Listing inventory remained steady with home buyers having 1045 properties to select from at the end of March. REALTORS® listed 738 homes in March up 11% from 2009 when 662 were placed on the market for sale.

In areas surrounding Saskatoon e.g. Martensville, Warman etc unit sales were up 49% with 97 properties selling as compared to March 2009 when 65 properties were sold. Year to date 168 properties have sold in these areas that number up 22% from 2009 when 138 properties had sold. The average selling price in these areas was $260,054.00 up 16% from March 2009 when the average was $224,328.00.

The Saskatoon and area market is steady and is expected to remain steady throughout spring and summer. Slightly higher interest rates may affect some first time buyers who typically are close to the line when qualifying for financing to purchase a home. Conditions in Saskatoon are very favourable for strong real estate sales and development.

City lot sales for 2010 have already exceeded the City Land Branch goals and expectations. Saskatoon leads the nation in population growth and job creation. Many businesses regularly express interest in relocating to this city and in-migration in general is becoming more common place. Even at the Olympics people stood in line for 2 hours to get into the Saskatchewan pavilion. All indicators point to 2010 remaining a solid market environment in Saskatoon.

Harry H. Janzen, CAE

Executive Officer

Saskatoon Region Association of REALTORS®

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

Saskatchewan is expected to lead the country with an economic growth rate of 2.9 per cent in 2010, according to the average of nine leading economic forecasters.

After ending 2009 with a new record population and the lowest unemployment rate in Canada, Saskatchewan is forecast to start the next decade with the strongest economic growth record in the country in 2010.

Saskatchewan Enterprise Minister Ken Cheveldayoff says while Saskatchewan was not immune from the economic downturn in 2009, it came through the recession very well compared to other provinces.

Cheveldayoff noted that Saskatchewan had positive job creation in 2009 while most other provinces were losing jobs. Saskatoon and Regina had the two lowest unemployment rates among Canadian cities. Saskatchewan's population hit an all-time high and is growing at its fastest pace in over 50 years. There are more people and more jobs in Saskatchewan. People are earning more, and they are keeping more of what they earn, thanks to lower income and property taxes. All things considered, 2009 was a strong year for our province and its people, and 2010 should be even better. And Saskatchewan is expected to lead the country with an economic growth rate of 2.9 per cent in 2010, according to the average of nine leading economic forecasters. Saskatchewan had the best job growth rate in the nation in 2009 and the lowest unemployment rate in Canada for the last six consecutive months. Record-setting population numbers and stellar job growth are two important components in a strong economy. We are also seeing some good news on the construction front, which indicates a fair amount of optimism for business and consumers. Construction sites were busy this year, with October building permits in the province showing the highest percentage increase in the nation. Urban housing starts for November were also positive, reaching some of the highest levels in decades. Ken Cheveldayoff "I know that as we enter this new decade, we can reflect on the many success stories in the Saskatchewan economy and look forward to even better prospects in our future!"