Average price of a Saskatoon home increases $13,000 in October 2007
The Saskatoon Region Association of REALTORS® (SRAR) released its statistical overview of the Saskatoon real estate market for October today. These statistics are based on residential units, of all types, which were reported as having firmed up during the month of October.
According to SRAR, the average selling price of a residential property in Saskatoon hit its highest month end number on record at $255,613, up a full 53% from $166,766 in October of 2006. The “year to date” average reached $230,061, and the six month rolling average was $247,076.
Active residential listings closed the month at 650 units, the highest month end number we’ve seen since May of 2006.
Total unit sales came in at 280 properties, down 8% from October of last year when 303 units were reported sold in the Saskatoon market. October is the first month to see a decrease in unit sales over the same month last year, since January, when lower unit sales could more likely be attributed to a lack of supply than waning demand.
My monthly review will follow in approximately 10 days time. Those numbers will be based on home sales which were actually contracted during October and will include a breakdown between single family homes and condominiums in the five major real estate trading areas of Saskatoon.
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.
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Norm Fisher
Royal LePage Saskatoon Real Estate
2 comments so far. We'd love to hear your thoughts.
May 27th, 2009 at 10:10 AM
Norm,
“Active residential listings closed the month at 650 units”. Was last week not 689?
May 27th, 2009 at 10:10 AM
Hi Northstar,
Yes, last week was 689. The last day of the month is a common day for expiration of listings and I expect that’s what happened. There was also a higher sales to listing ratio this week compared to the most recent weeks.