Little Change to Sales Year Over Year in November
Information summarized from SRAR December 1st media release
Residential sales activity for Saskatoon REALTORS® in the month of November was 286, virtually unchanged when compared with November of 2010 which saw 282 sales. This number was also only down slightly from October when 309 properties changed hands. Total residential sales year to date sits at 3,776 up 12% from 2010. The $300,000 to $350,000 price range continues to be the most active with 64 sales. The average number of days to sell in the month of November was 47 days.
The average residential selling price in November this year was $314,541.00 which was only a 1% increase from the average sale price in November 2010. The year to date average selling price was $312,976, up 5% from the year to date average in November 2010 which was $296,222.00.
Properties listed in November totaled 451 up 12% from the same month a year ago. Year to date 6,777 homes have been listed for sale up 5% when compared to November 2010. There were a total of 1,084 active residential listings available at the end of November, representing a 4% increase compared to the active listing in November 2010.
The number of sales in areas surrounding Saskatoon (e.g. Martensville, Warman, Clavet, etc) this past November was down 5% from November 2010. REALTORS® listed 132 properties in these areas in the month of November. This is a notable decrease of 14% from November 2010. The average selling price in these surrounding areas was $277,797.00, up 7% from November 2010. During the month of November, in areas surrounding Saskatoon, it took 60 days for a property to sell on average.
In summary, the year to date activity in the Saskatoon market continues to remain steady with moderate increases to market values and sales volume. The upward trend is expected to continue with positive announcements on almost a daily basis in the resource sector. The challenge continues for the city of Saskatoon, as well as surrounding communities, to meet the demand for serviced lots.