Michael Kinar

Mobile (306) 229-6743

Email: michael@expertadvisorrealty.com

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Sales activity in Area 1, which is the residential development east of Circle Drive, is the only area showing a positive increase in the number of unit sales at 3% year to date. All other areas of the city had slight decreases with the exception of the north end with a decrease of 12% or 271 unit sales compared to 309 at the end of July 2012. There is more selection in Area 1 with many existing and new neighborhoods to choose to live.

 

Active listings are up 8% from last year with 1,338 homes available in the Saskatoon market place. Sales were also up 8% in July with 620 transactions taking place and an average time on the market of 35 days which is a drastic change from the average of 63 days last July. Despite some speculation that the Saskatoon economy is slowing, the real estate market proved otherwise with a very active July.   Most of the sales occurred in the price range between $350,000 and $400,000 with 490 transactions in the first seven months of the year.

 

The average sale price in Saskatoon inched up slightly by 3% to just under $342,000. The market remains balanced with a total of 4,846 homes listed in Saskatoon year to date with 2,623 of these selling for a sale to listing ratio of 54%.

 

The areas surrounding Saskatoon, including several growing "bedroom" communities, continue to show strong activity with an increase in the number of sales by 7% over the same period last year. The average selling price in the surrounding areas is just over $300,000 which is a 5% increase from last year. As communities like Warman and Martensville continue to add neighborhoods and amenities, their pace of growth will continue to be strong.

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