July Market Update:
Information smmarized from SRAR August media release
Home buying activity was down slightly in the month of July with 357 homes selling down 18% from July 2009. Year to date unit sale numbers are down 4% with 2,217 homes having sold. The majority of the sales activity remained in the $300,000.00 to $350,000.00 price range.
The average selling price remained strong at $289,715.00 up 2% from July 2009. Year to date the average selling price is $290,515.00 up 5% from 2009. The higher average selling price indicates continued strength in the mid price range homes. In July it took 39 days on average to sell a home.
Home buyers had 1,334 properties to select from at the end of July. Inventory levels decreased from the month of June when 1412 homes were on the market. Listing inventory continues to balance with REALTORS® listing 550 properties in the month of July that number down 7% from July 2009. Year to date listing numbers are on par with 2009 with 4,389 having been listed for sale.
Similar sales and listing activity was seen in the areas around Saskatoon e.g. Martensville, Warman, Clavet and Dundurn. Unit sales softened with 71 properties selling down 34% from July 2009. The average price increased to $284,158.00 up 12% from July 2009. Listing numbers were down 15% with 230 properties being placed on the market. Year to date 1,643 have been placed on the market.
Market demand remains steady, interest rates are favorable and job growth continues. Similar market conditions are expected for the remainder of the summer.