The real estate market in Saskatoon and surrounding area was brisk in the month of September. REALTORS assisted 351 homebuyers in the purchase of a home, that number up 43% from September 2008. The residential year to date unit sales number stands at 3,048, up 3% from 2008.
The average residential selling price in September was $279,457, that number down 6% from September 2008 indicating more activity in the low to middle price range homes. The average selling price has remained steady throughout 2009. The strongest sales activity remains in the $300,000 to $350,000 price range.
REALTORS sold $98,089,304 of residential real estate in the month of September, up 34% from 2008. Year to date dollar volume stands at $848,202,479. Listing inventory continued to correct with fewer properties being listed and more current inventory being sold. REALTORS placed 516 properties on the market in September that number down 37% from September 2008. Home buyers had 1,097 properties to choose from at the end of September.
Sales activity in surrounding communities remained strong with 119 homes being sold, up 65% from September 2008. The average selling price was $271,401, up 18% from September 2008.
Similar sales activity is expected to remain throughout the fourth quarter of 2009. Market stability will continue to improve as inventory levels decline. The resale and new home market are being fueled by low interest rates, product availability and consumer optimism in the local economy.
Information summarized from SRAR October 1st media release