Saskatoon Real Estate News February 4, 2013

January Saskatoon Real Estate Market Update

The January real estate market in Saskatoon was busier in the surrounding communities than in Saskatoon. Compared to 2012 the sales activity in communities and acreages outside of Saskatoon was up 40% which may have something to do with the mortgage changes as well as an overall shortage of houses for sale in Saskatoon in the $250,000-$400,000 price range. Of the 1105 active listings at the end of January 0nly 200 of them were in that price range so more buyers are looking at bedroom communities to find what they are looking for in this price range. I just helped some great first time home buyers in Saskatoon purchase a home in Martensville as we found a better home for the value there for what they were looking for-they were also under the $300,000 price range.

The average house price in Saskatoon is currently just over $335,000 and the surrounding communities have an average house price of $279,000. The average house price in Saskatoon is increasing at a healthy rate of about 5% which helps protect us from major price corrections like we have seen in cities like Vancouver and Toronto.

We saw an 8% increase in the amount of listed houses for sale in Saskatoon at 571 this year, up from 528 in 2012. The amount of sales decreased from 247 in January 2012 to 222 this year in the city. For the surrounding communities we saw a 10% increase in new listings from 185 to 204 this year. We also saw a 40% increase in the amount of sales in these areas from 42 in January 2012 to 59 this year.

There are currently 1015 houses for sale in Saskatoon which is up 7% from last year. The number of houses for sale outside of Saskatoon has decreased 2% to 738.

The Saskatoon Region Association of REALTORS represents over 600 professionally trained and licensed REALTORS in Saskatoon which is up 7% from the same time last year. There are 43 affiliate members which includes home inspectors in Saskatoon, appraisers in Saskatoon, etc which is up 13% from 2012. The number of brokerages has decreased 14% from 43 to 37.

If you are thinking about buying a house for sale in Saskatoon or listing your house for sale in Saskatoon (or condo of course!) please check out my websites and contact me to see how I can help you.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Fusion