January homes sales soften slightly from same month last year: SRAR

The Saskatoon Region Association of REALTORS® (SRAR) released the residential real estate statistics for January 2010 today, accompanied by this release.

Saskatoon REALTORS® assisted 179 homebuyers with the purchase of a home during January of 2010. This number was down 16% from January 2009 when 212 homes changed hands.

The average residential selling price was $270,191 down 3% from January 2009, which had an average residential selling price of $ 278,939. The average selling price declined slightly due to the increased number of sales in the $ 250,000 to $275,000 price range. This price range had the highest number of unit sales in January.

Inventory levels continued to correct in the month of January with fewer listings being taken. REALTORS® listed 394 residential properties, down 23% from January 2009 when 512 properties were listed for sale. Home buyers had 736 homes to select from at the end of January as compared to the same time last year 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 the same month last year. The average selling price was $214,976 up 5% from January 2009 when the average selling price was $204,166. January dollar volume was $7,309,200 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 in areas surrounding the City of Saskatoon. Consumer confidence remains high, interest rates are low, both factors contributing to a healthy real estate market.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Norm Fisher
Royal LePage Saskatoon Real Estate