Information summarized from SRAR July Media Release
The real estate market continues to balance with increased sales numbers and a reduced inventory of listings on the market. Residential unit sales rebounded in the month of June with 442 properties exchanging hands as compared to June 2008 when 321 units sold representing a 38% increase. Year to date the average price stands at $276,232.00 down 5% from 2008.
Saskatoon REALTORS® listed 669 properties in the month of June the number down 26% from June 2008. Home buyers had 1439 homes to select from at the end of June that number down from last month when 1532 homes were available for purchase.
The average selling price for homes in areas surrounding Saskatoon was $ 251,354.00 that number up 17% from June 2008. Unit sales were also up 14% with 99 units selling as compared to 85 selling in June2008. The number of listings taken followed the city trend with 257 homes being listed down 11% from June 2008.
Similar market activity is expected moving into the third quarter of 2009. Market conditions are favorable with low interest rates, steady employment numbers and a generally strong consumer confidence in the local economy.