Residential Real Estate Market Gains Momentum in April
All statistical measures were up in the month April beginning with units sales, up 6%
372 homes being purchased as compared to 352 homes purchased in 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 when the average $275,586.00. The year to date average selling price stands at
$287,722.00 up 5% from 2009.
The average residential price is derived by taking the month’s dollar volume of homes
sold and dividing that number by the unit sales number. The percentage of change
should not be used unilaterally as prices vary from area to area. Consumers wishing an
accurate estimate of value for their home should contact me to do a comparative market analysis.
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 693 in April 2009. Year to date 2383 homes have been listed
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 when the average was
$260,956. 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.
I'm never too busy for your questions or comments.
Feel free to contact me at anytime
Scott
Monday, May 3, 2010
Thursday, April 1, 2010
Residential Resale Market Maintains Momentum
Saskatoon’s real estate market maintained its momentum throughout the first quarter. Unit sales were up 28% from March 2009 with 361 homes being sold as compared to March 2009 when 282 units were sold. Year to date 775 properties have exchanged hands that number up 10% from 2009 when 704 properties exchanged hands. The average days on market has dropped to 30 days with some areas having as low as 22 days to sell on average.
The average residential selling price in March was $282,615.00 up 6% from March 2009 when the average selling price was $266,620.00. The average selling price year to date is $282,270.00 up 3% from 2009 when the average price was $274,555.00. The highest number of sales year to date has taken place in the $300 to 350,000.00 price range.
The average residential price is derived by taking the month’s dollar volume of homes sold and dividing that number by the unit sales number. The percentage of change should not be used unilaterally as prices vary from area to area. Consumers wishing an accurate estimate of value for their home should contact me to do a comparative market analysis.
Listing inventory remained steady with home buyers having 1045 properties to select from at the end of March. REALTORS® listed 738 homes in March up 11% from 2009 when 662 were placed on the market for sale.
In areas surrounding Saskatoon e.g. Martensville, Warman etc unit sales were up 49% with 97 properties selling as compared to March 2009 when 65 properties were sold. Year to date 168 properties have sold in these areas that number up 22% from 2009 when 138 properties had sold. The average selling price in these areas was $260,054.00 up 16% from March 2009 when the average was $224,328.00.
The Saskatoon and area market is steady and is expected to remain steady throughout spring and summer. Slightly higher interest rates may affect some first time buyers who typically are close to the line when qualifying for financing to purchase a home. Conditions in Saskatoon are very favorable for strong real estate sales and development.
City lot sales for 2010 have already exceeded the City Land Branch goals and expectations. Saskatoon leads the nation in population growth and job creation. Many businesses regularly express interest in relocating to this city and in-migration in general is becoming more common place. Even at the Olympics people stood in line for 2 hours to get into the Saskatchewan pavilion. All indicators point to 2010 remaining a solid market environment in Saskatoon.
The average residential selling price in March was $282,615.00 up 6% from March 2009 when the average selling price was $266,620.00. The average selling price year to date is $282,270.00 up 3% from 2009 when the average price was $274,555.00. The highest number of sales year to date has taken place in the $300 to 350,000.00 price range.
The average residential price is derived by taking the month’s dollar volume of homes sold and dividing that number by the unit sales number. The percentage of change should not be used unilaterally as prices vary from area to area. Consumers wishing an accurate estimate of value for their home should contact me to do a comparative market analysis.
Listing inventory remained steady with home buyers having 1045 properties to select from at the end of March. REALTORS® listed 738 homes in March up 11% from 2009 when 662 were placed on the market for sale.
In areas surrounding Saskatoon e.g. Martensville, Warman etc unit sales were up 49% with 97 properties selling as compared to March 2009 when 65 properties were sold. Year to date 168 properties have sold in these areas that number up 22% from 2009 when 138 properties had sold. The average selling price in these areas was $260,054.00 up 16% from March 2009 when the average was $224,328.00.
The Saskatoon and area market is steady and is expected to remain steady throughout spring and summer. Slightly higher interest rates may affect some first time buyers who typically are close to the line when qualifying for financing to purchase a home. Conditions in Saskatoon are very favorable for strong real estate sales and development.
City lot sales for 2010 have already exceeded the City Land Branch goals and expectations. Saskatoon leads the nation in population growth and job creation. Many businesses regularly express interest in relocating to this city and in-migration in general is becoming more common place. Even at the Olympics people stood in line for 2 hours to get into the Saskatchewan pavilion. All indicators point to 2010 remaining a solid market environment in Saskatoon.
Tuesday, March 2, 2010
Saskatoon Real Estate Sales Brisk In February
Saskatoon real estate residential home sales brisk for month of February.
Warmer weather and possibly the Olympic spirit brought numerous home buyers out in
the month of February. 236 homes were purchased in February that number up 12% from
February 2009 when 219 homes were purchased. The average selling price was
$291,056.00 that number up 4% from February 2009 when the average was $280,784.00.
The average number of days to sell a property in February was 34 days indicating a
steady active market environment.
The average residential price is derived by taking the month’s dollar volume of homes
sold and dividing that number by the unit sales number. The percentage of change should
not be used unilaterally as prices vary from area to area. Consumers wishing an accurate
estimate of value for their home should contact a REALTOR® member to do a
comparative market analysis.
REALTORS® listed 464 residential properties in February that number down 18% from
last year at this time verifying continued inventory correction. Year to date listing
numbers are down approximately 20%. Home buyers had 866 home to select from at the
end of the month.
Residential sales activity in communities around Saskatoon was down slightly from 2009.
38 homes were purchased in February as compared to 44 being purchased in February
2009. The average selling price was up 3% at $265,011.00. Year to date 307 properties
have been listed in these areas around Saskatoon, this number represents a 7% decline
from 2009.
Consumer confidence is certainly being verified by the number of home buyer inquires,
open house attendance and increased daily www.onlineopenhouse.ca website hits. Interest rates are favorable; there is a reasonable inventory level in both new and existing homes, all
necessary components for a healthy market place. Activity is expected to increase as we
approach the spring market.
Warmer weather and possibly the Olympic spirit brought numerous home buyers out in
the month of February. 236 homes were purchased in February that number up 12% from
February 2009 when 219 homes were purchased. The average selling price was
$291,056.00 that number up 4% from February 2009 when the average was $280,784.00.
The average number of days to sell a property in February was 34 days indicating a
steady active market environment.
The average residential price is derived by taking the month’s dollar volume of homes
sold and dividing that number by the unit sales number. The percentage of change should
not be used unilaterally as prices vary from area to area. Consumers wishing an accurate
estimate of value for their home should contact a REALTOR® member to do a
comparative market analysis.
REALTORS® listed 464 residential properties in February that number down 18% from
last year at this time verifying continued inventory correction. Year to date listing
numbers are down approximately 20%. Home buyers had 866 home to select from at the
end of the month.
Residential sales activity in communities around Saskatoon was down slightly from 2009.
38 homes were purchased in February as compared to 44 being purchased in February
2009. The average selling price was up 3% at $265,011.00. Year to date 307 properties
have been listed in these areas around Saskatoon, this number represents a 7% decline
from 2009.
Consumer confidence is certainly being verified by the number of home buyer inquires,
open house attendance and increased daily www.onlineopenhouse.ca website hits. Interest rates are favorable; there is a reasonable inventory level in both new and existing homes, all
necessary components for a healthy market place. Activity is expected to increase as we
approach the spring market.
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