Due to an extremely cold and terrible winter in Saskatoon we had a bit of a slower start this year but an increase in the Saskatoon real estate market activity in April helps make up for some of that lost ground. Listing activity was up only 3% from 2012 but the sales activity was up 8% from the year before.
The average home price in Saskatoon is up 4% from the beginning of the year and sits at $340,500 and this has been the norm for the past few years. We are still in a balanced real estate market in Saskatoon so this means it is neither a buyers market or a sellers market but some price ranges are hotter than others.
At the end of April we had 1182 houses for sale in Saskatoon (or condos) and we had 439 sales in April, up from 206 in April 2012. The real estate market around Saskatoon is quite the opposite with 917 active listings and only 117 sales in April which means almost 8 months of inventory. Despite this excess the average sale price in this market still increased 9% to $327,000. There may have been more expensive homes sell that month than previous brining that average up.
Houses for sale in Saskatoon between $300,000-$400,000 actually had less activity in April compared to April of last year but yeaer over year the upper range of homes continues to be selling better with a 35% increase on houses for sale in Saskatoon that were over $500,000. There are about 255 houses for sale in Saskatoon in this price range compared to 189 last year.
So far in 2013 we have seen 6 homes for sale in Saskatoon sell for over one million. Considering it is only May this is quite impressive that luxury homes in Saskatoon are selling. Our economy keeps thriving so confidence in the market is easy.
We now have more than 600 REALTORS in Saskatoon. If you would like to work with an experienced Saskatoon REALTOR then contact me as I am 1 of only 3 REALTORS in Saskatoon to be part of Trusted Saskatoon based on my commitment to quality service, integrity and customer satisfaction.
Saskatoon Real Estate Agent
Century 21 Fusion