Despite a slow second half of the year for Saskatoon real estate in 2008 it appears that 2009 is starting out strong. In Saskatoon we have had 331 homes sold or with solid conditional offers on them between January 1st and February 12th, 2009. This is still very much a buyers market and we still have over 1100 home listed MLS in Saskatoon, but people are starting to buy again after what seemed like a very long and dry time from August-December. Houses were still being sold in this period but with all of the inventory you barely noticed the sold signs. I think everyone has seen many more sold signs on Saskatoon homes in the past 2.5 months than they did for the previous 4 months.
This is a great time to get in and buy for the first time or to purchase revenue properties or to move up if you are looking to increase the size of your home. I believe by 2010 our market will be completely balanced again as the inventory will be cleaned up. We can then expect an increase in house prices in Saskatoon, although overly optimistic people think that things will go up earlier than that with our still strong Saskatchewan economy. But that is just my opinion and feeling!
If you have any questions or comments about the Saskatoon real estate market feel free to contact me at anytime!
Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd