Saskatoon Real Estate News October 9, 2011

Saskatoon Real Estate Market Update September – 2011

Saskatoon Real Estate Market UpdateWhile Saskatoon REALTORS® were less busy in September 2011 than in August 2011 we were still busier than the year before. The increase from September 2010 to September 2011 was 21% in volume. The most active price range of houses for sale in Saskatoon that are selling is the $300,000-$350,000 range. Average days on the market in Saskatoon was 40 for September.

The average house price in Saskatoon is just over $311,000 in September with the year to date average house price in Saskatoon being $307, 415 which is up 4% from the year before when the year to date average house price in Saskatoon was $294, 741. Keep in mind that the monthly average house price is easily skewed depending on how many condos vs high end homes sell in a particular month.

We had more houses listed for sale in Saskatoon in September than the year before but the total listings in Saskatoon was down from the year before. At the end of September 2010 there were 1355 houses for sale in Saskatoon to choose from whereas this year we only have 1222 houses for sale in Saskatoon.

Houses for sale around Saskatoon also saw an increase in activity from the year, up from 79 to 101 this year. The average selling price in communities around Saskatoon has also increased from just under $250,000 to over $281,000. Average days on market in communities around Saskatoon was 59 for the month of September.

If you are thinking about selling your house in Saskatoon now is a great time but the Saskatoon real estate market is still price sensitive so if you are expecting more than the house is worth you will expect to sit on the market and possibly have your listing expire.  You can view a full September market summary at the SRAR website.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Fusion