June saw an 8% increase in sales compared to last year which is only the second month in 2013 with a positive increase. A total of 2,893 transactions is still down 3% year to date. Year to date sales activity continues to be strongest over $450,000 with a 28% increase in sales between $500,000 and $750,000 and a 45% increase above $750,000. The $300,000 to $350,000 range continues to see the greatest activity with 512 sales year to date, however this is down 8% from last year.
City wide, the average home price continued its upward trend with a 5% increase to $348,000. The west side of Saskatoon which includes neighborhoods such as Caswell, Mount Royal, Pleasant Hill and Riversdale, saw the greatest percentage change at 6.38%. The neighborhoods which saw the smallest change in value were those west of the Circle Drive freeway at 3.34%.
The number of days required for a home to sell on average was 40 in Saskatoon. This represents a significant change compared to May where a home would sell in 27 days on average. The neighborhoods east of circle drive took the longest to sell on average at 48 days.
Overall the outlook remains strong for Saskatoon with a balanced real estate market. Saskatoon's modest but steady increase in values and activity insulates it from the dramatic price corrections experienced by some major Canadian cities.