The number of residential listings in Saskatoon continues to rise. There were 721 homes placed on the market in May 2009, compared to 694 in April. At the end of May, buyers had 1,532 residential listings to choose from, up from 1,499 homes at the end of April.
Sales continue to rise as well. In May, 372 homes were sold, up 5.4% from April's total of 353 homes. This number is also up from May 2008, when 363 homes were sold. The average sell price this May was $279,477 with an average of 41 days to sell.
Out of May's 372 sales, 111 were condos, varying in price from $445,000 down to $79,000.
Area 1 (east of Circle Dr.) continues to be the most active area of Saskatoon with 242 units listed and 147 units sold. The average sell price per unit is also the highest in this area at $306,936.
Sales numbers in the $300,000 to $349,999 price range were the highest at 52 units sold. The $275,000 - 299,999 range was a close second at 44 sales.
"Summer sales and listing activity is expected to remaining similar as the market continues to correct with excess inventory moving through the system. Saskatoon has been somewhat effected by the global recession but all indicators point to the local market remaining steady in the next few months" (From SRAR June Media Release)
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