Homes sales in Saskatoon continued to rise last month with a total of 311 houses selling at an average of just under $275,000. In the same month in 2008 only 213 houses for sale in Saskatoon sold. The average house price in Saskatoon is down from 2008 with that average being $285,547. Keep in mind that the average house price in Saskatoon does not take into factor how many condos vs single family homes have sold, so there are a lot of variables each month. This year an increase in sales of homes between $250,000 and $275,000 has helped contribute to this ‘decline’.
Other good news for the market, but not for some home buyers in Saskatoon, is the listings have now dipped below 1000 for the first time in more than a year. There were 971 homes for sale in Saskatoon this year compared to last year when there were 1667 houses for sale in Saskatoon.
CMHC’s senior market analyst for Saskatchewan, Paul Caton, believes the slower pace of housing activity in 2009 has allowed for a reduction in inventories, setting the stage for an increase in activity in 2010.
CMHC also predicts an increase from 3700 units selling in 2009 to 3900 units in 2010.
For all of you buyer’s who are contemplating waiting to buy a house in Saskatoon, don’t wait too long! We are already experiencing multiple offers on re-sale homes and, while we hope it doesn’t come to ‘presentation of offers’ again where you may be up against as many as 20 other buyers for the same house, it is a possibility.
For all your Saskatoon residential real estate needs, contact your Saskatoon real estate agent, Kari Calder.
Kari Calder
Real Estate Specialist
Century 21 Conexus Realty Ltd. Saskatoon