Residential Real Estate Market Gains Momentum in April

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.


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Feel free to contact me at anytime

Scott