Here’s what’s new in Saskatoon’s real estate world.
Just the facts.
395 homes were purchased in August that number 5% higher than August 2013 when 375 homes were purchased. The average selling price was $352,810.00 that number 3% higher than August 2013 when the average was $342,964.00. The average price year to date is $356,317.00 up 3% from 2013 at this same time when the average was $344,636.00. The average number of days to sell a property in August was 33 days indicating a seasonal increase of sales. Unit sales year to date are 7% higher than 2013 while the number of units listed is up by 15%. REALTORS® listed 764 residential properties in August that number up from the 740 listings in August last year. Year to date listing numbers are 6,411 listings, 15% higher than the 5,586 listed in 2013. A certain percentage of these listings were previously listed properties that failed to sell as a result of being overpriced, which were then relisted at a lower price in order to bring them closer to market value. Home buyers had 1,595 homes to select from at the end of the month which calculates out to be approximately 4 months of inventory.
Residential sales activity in communities around Saskatoon was the same as in August 2013. 114 homes were purchased in August as compared to 114 being purchased in August 2013. The average selling price was down 1% at $284,347.00 . Year to date 2,397 properties have been listed in these areas around Saskatoon, this number indicates a 14% increase from the 2,110 property listings in 2013. At the end of August 2014 there were 1051 active listings in these areas around Saskatoon, 1 % higher than in August 2013.
Currently the west side of Saskatoon enjoys a slightly stronger Sellers’ market than the east side and north end. The activity in homes priced between $500,000 and $750,000 continues to do well with 332 unit sales, an increase of 35% over last year. The price range with the most unit sales is between $350,000 and $400,000 with 551 units, a 16% increase from 2013. The average price of a home in Saskatoon sits at approximately $353,000. At present there are just over 330 newly constructed homes available on the Multiple Listing Service.
The months of inventory, which reflects the time needed to liquidate the current inventory of listed homes, is up slightly to just over 4 months as the increase in properties for sale continues to outpace the increase in sales across Saskatoon.
It’s my pleasure to provide you with these monthly real estate updates, it’s part of the service that keeps you informed about Saskatoon’s real estate market. If you are curious about the value of your home in todays market please call me, it would be my pleasure to provide you with a current market evaluation, at no cost to you. Again, my way of helping you with any of your real estate needs. If a friend of yours is looking for the type of help I have provided to you in the past, please ask them to call me, I’ll do my best to make you proud that you made the introduction.
This link will take you to a 1232 square foot, 4 bedroom, 3 bathroom East College Park bungalow priced at $359,900 I have available for sale, please call me if you have any questions about the home. Terry Alm, Realty Executives Saskatoon MLS, 306-280-0989 http://518guelph.agentmarketing.com
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