May Market Update
All statistical measures were up in the month April beginning with units sales, up 6% with 372 homes being purchased as compared to April 2009. Year to date numbers remain strong with 1147 units being purchased as compared to 1056 in 2009. REALTORS® sold $111,307,000.00 of real estate in April up 15% from April 2009. Year to date $330,016,00.00 of real estate has exchanged hands up 14% from 2009.
The average residential selling price was $299,214.00 that number up 9% from April 2009. The year to date average selling price stands at $287,722.00 up 5% from 2009.
Eager home buyers had a slightly increased inventory to select from at the end of April with 1258 homes being for sale. The number of listings taken by Saskatoon REALTORS® in the month of April was up by 13% with 784 properties being placed on the market as compared to April 2009. Year to date 2383 homes have been listed for sale.
Real estate activity was up in areas surrounding Saskatoon e.g. Martensville, Warman, Clavet and Dundurn. Unit sales were up 39% with 115 properties being purchased. The average selling price was $233,792 down 10% from April 2009. This decline in the average selling price indicates more properties selling in the lower to mid price range.
All indicators point to a stable market conclusion for the second quarter. The market is fairly balanced with sufficient inventory being available for home buyers. Consumer confidence and optimism in the local and provincial economy is high. Job creation and availability remains steady. New home starts are steady and interest rates are favorable, all necessary components to maintain vibrant market.
Information summarized from SRAR May media release.