This release regarding Saskatoon real estate activity for the month of June was just released by the Saskatoon Region Association of REALTORS® (SRAR).
Home buyers enjoyed an increased level of inventory to select from in the month of June. Saskatoon REALTORS® listed 905 residential homes during the month of June that number up 49% from June 2007 when 609 properties were placed on the market for sale.
REALTORS® assisted 321 buyers to purchase their next home that number down 33% from June 2007 when 479 properties were purchased. June’s sales number brings sales activity more in line with 2006 when 385 homes were purchased and 2005 and 2004 when 352 properties were sold in June. Year to date 2,156 homes have been purchased.
The average residential sales price in June was $310,386.00. That number up 23% from last spring’s more than active market when the average sales price was $252,703.00. The year to date average selling price is $289,165.00 up 32% from 2007.
In the month of June Saskatoon REALTORS® sold $99,633,000.00 of real estate that number down 18% from 2007 when they sold $121,004,000.00 of real estate. Year to date $623,438,000.00 of real estate has exchanged hands.
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 comprehensive market evaluation.
Home sales in areas surrounding Saskatoon were down 22% in the month of June with 87 units selling as compared to June 2007 when 111 units exchanged hands. The average selling price in areas around Saskatoon increased to $207,180.00 that number up by 4% from 2007.
Similar market conditions exist in other western provinces for example Edmonton Alberta where the average price for a single-family home was $381,384.00 that number down 8.6% from June 2007. Unit sales are also down 17% with just over 2000 homes selling in June.
Strong optimism in the Saskatchewan economy continues to fuel in migration and housing industry activity. The Saskatoon and area job market remains strong, which generally influences home buying and new home building.
Read also: Average price of Saskatoon home rises: Kassandra Kyle, Star Phoenix
See a Google map displaying the boundaries of Saskatoon real estate “areas” here
Data collection and calculation for our statistical reports
I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call or email.
Follow our daily updates on Twitter @SaskatoonHomes.
Norm Fisher
Royal LePage Saskatoon Real Estate
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{ 16 comments… read them below or add one }
Why do they always compare prices in Saskatoon using the average residential sale price for all homes and then compare us to Edmonton or Calgary’s average price for a single family home. This seems very deceiving to me.
“This seems very decieving to me.”
I don’t know but I think most people, like you, are sharp enough to know that the price of a home in Edmonton, or anywhere else for the matter, isn’t relevant here. Interesting though that it was put forward as a comparison with the comment, “down 8.6% from June 2007.”
Yeah, that’s annoying.
What was the average Saskatoon SFH selling price in June?
Zamuel,
$339,548, up from $327,392 in May. It is my opinion that this is due to a larger number of sales in the 500+ range and not an indication that prices are up.
“Strong optimism in the Saskatchewan economy continues to fuel in migration and housing industry activity”
That’s why sales are back to pre boom levels, and inventory is way up, with more listers than sellers.
Norm, just my opinion, but the price of Edmonton housing, and Edmonton’s higher wages are what makes it a more attractive place to lure recent grads, or Ontario workers. I think their prices falling, and ours holding pretty constant over the last few months at about the same (higher?) makes it really tough for Saskatoon to attract new residents, or retain well educated science grads.
Doug,
Clearly that’s the case now, but we should understand that the market will eventually find some balance. These problems will find a fix.
hey this map thing is on http://saskhouses.com/map/stoon/
does mls have something like it?
the map is good but places seem too expensive
i would like to try same for mls by a map
instead of searching by oversized mls zone
and having to choose price limits and hope they give address for google map
jon,
The Canadian Real Estate Association just launched a new site which will eventually replace mls.ca. It uses a map based search.
Check it out at http://www.realtor.ca
thanks for the link
i don’t find the map too user friendly, too small, saskhouses is better, is this the final version?
interesting how many places are available in saskatoon when you can see on the map
jon,
Weird. The actual map area on realtor.ca is slightly larger than the one on saskhouses on my monitor. I couldn’t say if they’re planning further changes, but because it runs on “Virtual Earth,” I expect that you’ll see satellite imagery added after Microsoft expands into this area later this year.
Does anyone hear BTO’S Randy Bachman singing “Bah Bah Bah Baby – You Ain’t Seen Nothing Yet.”
Vancouver Residential sales down over 42% with over 18,000 residential listings. Even by our standards that is so over the top. Yet, we are still seeing prices climb by 7%. Go figure. But if you ask we’ll tell you that the market is easing into a buyers market as the values are moderating.
Now on the bright side. I suspect that with all the FOR SALE signs it’s actually a quiet Realtor conspiracy to support our flagging lumber industry. We’re big on supporting our community. .>)
The “fat lady” is far too refined to sing anything from BTO.
I know some of you hate this but I have to share my captcha; declaring knobs
Norm,
Fat Lady Refined. Now THAT is funny.
http://www.homes.point2.com has a view listing by map feature, works quite well, but I’m fairly bias being employed by them
I will purchase a higher class home (cash, no mortgage) when the prices lower to reflect the true value of real estate. Real estate must reflect the REAL worth.
Jerome,
Good thinking!