Saskatoon Real Estate Market Update for August

I am a bit behind in writing this post due to a busy month however better late than never! The real estate market in Saskatoon may have slowed down a bit in August from the same month last year however year to date the number of real estate transactions in Saskatoon and area is up over 9% from the year before. The total residential sales volume so far this year exceeded $1B by the end of August which is 2 months earlier than last year. There have been 9% more transactions over the year before. The average house price is also up 8% from the year before at $330,597. People must keep in mind that the average sale price is very easily changed due to what is actually selling.

In 2011 there were a lot of sales under $250,000 in August while this year there were considerably more sales over $250,000 which increases the average house price in Saskatoon. By the end of August this year there were 251 houses for sale in Saskatoon over $500,000 that sold, compared to 162 for the same time last year. This year we even had 9 sales over $1M which increases that average house price in Saskatoon.

The real estate market outside of Saskatoon also saw a slower August than in 2011 with 19% less sales than in 2011 however year to date the salese are up 5% over 2011. The average house price outside of Saskatoon remains fairly constant at $282,452.

At the end of August we had 1234 houses for sale in Saskatoon (or condos) and 916 in areas surrounding Saskatoon. These numbers are down 6% and 13% respectively from 1315 houses for sale in Saskatoon in 2011 at this time and 1049 houses for sale outside of Saskatoon.

The number of real estate agents in Saskatoon has jumped yet again from 560 at the end of August in 2011 to 608 this year-this is up 9% from 2011. There are a lot of new real estate agents in Saskatoon so ensure you are getting someone who is an experienced Saskatoon REALTOR (r) as this is the largest transaction of your life!

We also have more affiliate members this year, up 8% from the year before we now have 41 members. These members are made up of  home inspectors in Saskatoon and appraisers.

If you are thinking about buying a house for sale in Saskatoon or are looking to sell your house in Saskatoon please consider me as your trusted Saskatoon REALTOR (r).

Kari Calder

Saskatoon Real Estate Agent
Century 21 Fusion
kari@saskatoonrealestate.net