Saskatoon Real Estate Market Update – May 12, 2008

Our Saskatoon Real Estate market has seen a great increase in listings over the past month. We have at least 500 single family dwellings actively for sale on Saskatoon MLS and 218 active condos in Saskatoon. In small towns outside of Saskatoon there are at least 500 listings on the market as well.

People are wondering if this means that prices will drop in Saskatoon. While we are seeing people reducing the prices on their homes for sale in Saskatoon, the market is not going down in Saskatoon. Our economy in Saskatoon and Saskatchewan is very strong and the forecast in the next 10 years looks outstanding, but many people were expecting spring to be as crazy as it was last year so too many sellers held off listing until now and it appears to have backfired on them.

It is just a matter of time before some of these listings get cleaned up, but for now it means that we have a balanced real estate market in Saskatoon once again and that is hard for sellers to understand and cope with. While some people are willing to move on the price, many sellers are still not motivated to negotiate on the pricesÂ… especially builders in Saskatoon. So that being said, it is a great time to buy a house in Saskatoon as you can get what you want and you may be able to get it for a bit less than list price. If you are interested in buying real estate in Saskatoon, be sure to contact me and I would be eager to assist you any way I can!

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

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