July 12, 2010
June Market Update
June Market Update...
Information summarized from SRAR July 5th media release
The second quarter of 2010 ended with 1,863 year to date residential unit sales on par with 2009. The unit sales number for the month of June declined by 17% with 364 properties being sold as compared to June 2009. However, the average selling price in June was $295,963.00 up 7% from June 2009. This increase indicates strong activity in the mid to upper price range of homes. The $300,000 to 350,000.00 price range continues to experience the greatest sales activity REALTORS® listed 676 homes in the month of June a similar number to June 2009 when 669 homes were placed on the market. Year to date listing numbers are on par with 3,838 properties being listed for sale. Consumers had 1,412 homes to select from at the end of June.
Sales activity in the smaller communities around Saskatoon e.g. Martensville, Warman, Dundurn remained very balanced with 101 units selling. That number was up 3% from June 2009. The average selling price was up 1% at $254,203.00. Listing numbers were down 4% with 246 properties being placed on the market for sale as compared to June 2009.
Similar market activity is expected in the third quarter. New home sales are brisk, interest rates remain attractive, job creation continues to increase and regular in migration is taking place. In addition consumer confidence in the local economy also remains strong. All of these are necessary components of a healthy real estate market environment.
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