The following is the month-end news release from the Saskatoon Region Association of REALTORS which reports the market remained stronge for sales in November.
Saskatoon REALTORS® were kept very busy in the month of November assisting 316 home buyers fulfill their dreams. That number is up 37% from last year at this time when 230 properties were sold. Year to date REALTORS® have sold 4,236 homes that number up 29% from last year when 3,273 homes were sold.
The average residential selling price is derived by dividing the month’s unit sales number into the dollar volume number. The average selling price for November was $251,202.00 up 50% from November 2006 when the average selling price was $ 167,480.00. The six month rolling average sales price is $249,957.00. Purchasing a home in Saskatoon is still very affordable when measured against markets such as Calgary’s where a single family home average price hovers around the $420,500.00 mark.
Year to date Saskatoon REALTORS® have sold 1.3 billion dollars of real estate up 98% from 2006 when $656,491,000.00 of real estate had sold. Year to date the highest number of unit sales have taken place in the $300,000 to $400,000 price range with 652 properties having sold. The next highest unit sales are in the $225,000 to $250,000 price range with 465 properties having sold.
Listing inventory continues to improve with 375 properties being listed in November up 60% from last November when 235 homes were placed on the market for sale. Home buyers had 538 homes to select from at the end of the month as compared to 363 homes being available at the end of November 2006 representing a 48% increase. This inventory increase plays a very important part in balancing the market place environment.
All indicators point to a strong finish in residential home sales for 2007 with much optimism present for a strong start to 2008. REALTOR® members continue to receive out of province inquiries for investment opportunities in the Saskatoon market. Ex pats continue to return home with significant equity earned by selling their homes in Alberta and returning to Saskatchewan.