The year to date sales overall in the city of Saskatoon are up this year by 8% YTD. Most of the gain has been in fall as the fall sales were up substantially over 2008. These sales increases are all in the under $400,000.00 category. The largest increase in unit sales being in the $200,000.-250,000. range. We also had a large increase in the $275,000.-$300,000. range. This range is typical for the older East side areas that have been very popular this year for first time home buyers. In the $350,000. up category we have seen unit sales volume drop accross the board. As much as 30% in the $400,000. range.
This indicates to me that a large per cent of our buyers are first time buyers who are now more comfortable entering the market as the prices have settled back and interest rates have reached the lowest in recent history.
Inventory has fallen late this fall as it usually does this time of year. We still have double the inventory of a few years ago during this time of year.
Average days to sell is down by about 15% from last year. The average price is also down compared to last year by about 11%. Most of this happened early in the the year. We have been pretty flat in terms of price changes through the year.
There is different opinions about whether the economy is coming out of the slump. If we go with the optomists we should see activity move up over the coming months. As this happens we should see more positive activity in the higher price ranges.
The Saskatoon Real Estate Market remains strong with 254 residential units sold in November.
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