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

Saskatoon home sales surpass 2008 levels in 2009: SRAR

The Saskatoon Region Association of REALTORS® (SRAR) released the residential real estate statistics for December 2009 today, accompanied by this release.

In the month of December Saskatoon REALTORS® assisted 211 buyers to fulfill their home ownership dreams, this number up 31% from December 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 by this same time.

The average residential selling price remained steady at $291,554, up 9% from December 2008 when it was $266,420. Year to date, the average selling price was $ 278,779, down 3% from 2008.

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

Sales activity in communities surrounding Saskatoon was also very high during 2009. 47 properties were purchased in December, 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, up 15% from 2008 when the average price was $224,421.

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.

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

Saskatoon home sales remain active in November 2009: SRAR

The Saskatoon Region Association of REALTORS® (SRAR) released the residential real estate statistics for November 2009 today, accompanied by this release.

The residential resale market remained strong during the month of November with 254 properties being sold, 41% from November 2008 when 180 homes sold. Year-to-date, unit sales are at 3611, up 8% from 2008 when 3,359 homes sold by this time.

Year-to-date Saskatoon REALTORS® have sold more than one billion dollars of residential real estate. The $1,003,976,000 number represents a 3% increase over the 2008 year-to-date volume number of $970,223,000.

The average selling price for the month of November was $ 278,885 remaining on par with November 2008. The year-to-date average residential selling price is $278,033 down 4% from 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 level for the past 6 months.

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, down 16% from 2008 when 425 units were placed on the market. 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, up 168% from 2008 when 28 properties changed hands. The sales number is on par with 2007. The average selling price in these areas for November was $280,453, up 24% from November 2008, which had an average selling price of $226,546.

The real estate market is progressing as real estate professionals had forecast. Inventory numbers are returning to more normal levels 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.

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.

If you live in Saskatoon we’d sure appreciate hearing your comments about your neighbourhood. Please visit our “Saskatoon Neighbourhoods” page and let us know what you love about your community.

Norm Fisher
Royal LePage Saskatoon Real Estate

Saskatoon real estate market continues to clear excess inventory: SRAR

The Saskatoon Region Association of REALTORS® (SRAR) released the residential real estate statistics for October 2009 today, accompanied by this release.

October’s residential resale activity trumped that of October 2008. Saskatoon REALTORS® assisted 311 home buyers with the purchase of a new home over the month. That’s up 46% from October 2008 when 213 homes were sold. Year to date, 3359 properties have sold, up 6% from 2008.

The average selling price was $274,759, down 4% from October 2008 when the average was $285,547.  The main reason for the decline was increased activity in the $250,000.00 to $275,000 range, which in turn affects the overall average price. Activity remained strong in the $300,000 to $350,000 price range.

Residential active listing inventory dipped below the 1000 mark for the first time in more than one year. The market continued to clear excess inventory that resulted from the frenzy of the 2007 and 2008 markets. Home buyers had 971 homes to choose from at the end of October, far fewer than the 1667 homes available last year at the same time. REALTORS® listed 442 homes for sale last month, down 36% from 2008 when 694 homes were listed for sale.

REALTORS® sold $85,450,000 dollars of real estate in October, up 40% from 2008 when $60,821,000 of residential real estate changed hands. Year to date, $933,652,000 worth of real estate has sold. This is well on target to again exceed one billion dollars of real estate sold this year.

Real estate sales in areas around Saskatoon remained strong as well with 90 homes selling, up 8% from 2008 when 56 homes were sold. The average selling price was $251,319, up 23% from 2008 when it was $203,956. REALTORS® listed 198 properties in areas around Saskatoon, up 8% from 2008 when 183 properties were listed in the same time period.

Market activity is expected to be similar for the remainder of the 2009. Consumer confidence remains strong in the local economy, when coupled with low interest rates, contribute to a healthy real estate market environment.

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.

If you live in Saskatoon we’d sure appreciate hearing your comments about your neighbourhood. Please visit our “Saskatoon Neighbourhoods” page and let us know what you love about your community.

Norm Fisher
Royal LePage Saskatoon Real Estate

Saskatoon residential unit sales up over Q3 2008: SRAR

The Saskatoon Region Association of REALTORS® (SRAR) released the residential real estate statistics for September 2009 today, accompanied by this release.

The real estate market in Saskatoon and surrounding area was brisk in the month of September. REALTORS® assisted 351 homebuyers in the purchase of a home, that number up 43% from September 2008 when 242 homes were sold. Year to date, residential unit sales stand at 3048, up 3% from 2008 when 2996 homes changed hands.

The average residential selling price in September was $279,457, that number down 6% from September 2008 indicating more activity in the low to middle price range homes. The average selling price has remained steady throughout 2009 beginning in January at $278,545.00 reaching a high in July of $283,871.00. The strongest sales activity remains in the $300,000 to $350,000 dollar price range.

REALTORS® sold $98,089,304.00 of residential real estate in the month of September, up 34% from 2008. Year to date dollar volume stands at $848,202,479.

Listing inventory continued to correct with fewer properties being listed and more current inventory being sold. REALTORS® placed 516 properties on the market in September that number down 37% from September 2008 when REALTORS® listed 825 homes.

Home buyers had 1097 properties to choose from at the end of September.

Sales activity in surrounding communities remained strong with 119 homes being sold, up 65% from September 2008 when 72 homes changed hands. The average selling price was $271,401, up 18% from September 2008 when the average selling price was $229,271.

Similar sales activity is expected throughout the fourth quarter of 2009. Market stability will continue to improve as inventory levels decline. The resale and new home market are being fueled by low interest rates, product availability and consumer optimism in the local economy.

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.

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Norm Fisher
Royal LePage Saskatoon Real Estate