John Pearce

Saskatoon REALTORS® assisted 179 homebuyers with the purchase of a home. This number was down 16% from January 2009 when 212 homes exchanged hands. The average residential selling price was $270,191.00 down 3% from January 2009 having an average residential selling price of $ 278,939.00. The average selling price declined slightly due to the increased number of sales in the $ 250,000.00 to $275,000.00 price range. This price range had the highest number of unit sales in January.

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.

Inventory levels continued to correct in the month of January with fewer listings being taken. REALTORS® listed 394 residential properties this number down 23% from January 2009 when 512 properties were listed for sale. Homebuyers had 736 homes to select from at the end of January as compared to January 2009 when 1156 homes were available for sale. January’s number is up slightly from December 2009 when 703 properties were available for purchase.

The residential dollar volume of $48,364,000.00 was down 18% due to lower sales numbers and increased activity in the mid price range of homes. Dollar volume is expected to increase significantly as the year 2010 progresses.

The real estate market in areas surrounding Saskatoon was very active. Unit sales were up 17% in January with 34 units selling as compared to 29 units selling in January 2009. The average selling price was $214,976.00 up 5% from January 2009 when the average selling price was $204,166.00. January dollar volume was $7,309,200.00 up 23% from January 2009.

The real estate market is expected to remain steady for the first quarter of this year. Days to sell in January were 38 days on average within the city limits and 59 days to sell being the average in areas surrounding the City of Saskatoon. Consumer confidence remains high, interest rates are low, all contributing to a healthy real estate market.

Harry H. Janzen, CAE

Executive Officer

Saskatoon Region Association of REALTORS®

In the month of December Saskatoon REALTORS® assisted 211 buyers to fulfill their home ownership dreams, this number up 31% from 2008 when 161 homes were purchased. Year to date 3,822 residential units have been sold up 9% from 2008 when 3,520 homes were sold at this same time.

The average residential selling price remained steady at $291,554.00 up 9% from December 2008 when the average selling price was $266,420.00. Year to date the average selling price was $ 278,779.00 down 3% from 2008. In 2008 the dollar volume remained high but unit sales were down slightly thus the reason for the slightly lower overall 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.

In 2009 REALTORS® sold $ 1,065,500,000.00 of residential real estate in Saskatoon. This number represents an increase of 5% from 2008 when $ 1,013,117,000.00 was sold. The highest amount of activity in 2009 was in $300,000 to $350,000.00 price range followed by significant activity in the $275,000.00 to $300,000.00 price range.

Listing inventory continued to correct throughout 2009. Home buyers had 703 homes to select from at the end of December as compared to 1,127 in December 2008. REALTORS® listed 212 properties last month down 13% from December 2008 when 245 homes were placed on the market for sale.

Sales activity in communities e.g. Martensville, Warman, Clavet and Dundurn surrounding Saskatoon was also very high during 2009. 47 properties were purchased in December that number up 68% from December 2008 when 28 properties were purchased. Year to date 951 properties have been sold up 9% from 2008 when 869 properties were sold. The average selling price was $258,996.00 up 15% from 2008 when the average price was $224,421.00.

At year end consumer confidence in the local economy remains optimistic a necessary component for consumer spending. All indicators point to a stable, steady real estate market in 2010. Unknown variables capable of affecting the market place are provincial revenue streams e.g. potash and oil prices.

The Saskatoon Region Association of REALTORS® (SRAR) released the residential real estate statistics for November 2009, along with this info.

I thought I could start to update my blog at least every month with some cool good news from Saskatoon, check this out: 

Residential Home Sales Remain Active in November

The residential resale market remained strong in the month of November with 254 properties being sold that number up 41% from November 2008 when 180 homes sold.

The 3,611 year to date sales number is up 8% from 2008 when 3,359 homes sold.

Year to date Saskatoon REALTORS® have sold more than one billion dollars of residential real estate.

The $1,003,976,000.00 number represents a 3% increase over the 2008 year to date volume number of $970,223,000.00.

The average selling price for the month of November was $ 278,885.00 remaining on par with November 2008.

The year to date average residential selling price is $278,033.00 down 4% from year to date number in 2008.

The decrease indicates an increase in the mid price range homes being purchased by more first time and move up home buyers.

Homes took 43 days on average to sell in November. The days to sell number has remained on par for the past 6 months.

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.

MLS® listing inventory continued to correct in the month of November. Home buyers had 877 residential homes to select from at the end of November. This inventory number includes 288 condominium units.

REALTORS® listed 356 properties in November that number down 16% from 2008 when 425 units were placed on the market for sale. Reduced inventory is contributing to a more balanced real estate environment.

Sales activity in small town markets surrounding Saskatoon was strong with 75 properties having sold that number up 168% from 2008 when 28 properties exchanged hands. The sales number is on par with 2007. The average selling price in these areas for November was $280,453.00 up 24% from November 2008 which had an average selling price of $226,546.00.

The real estate market is progressing as real estate professionals forecasted. Inventory levels are returning to more normal numbers and sales activity remains steady. The average selling price has remained steady throughout 2009 indicating a stable environment. Similar market activity is expected as we move into 2010.