February Saskatoon Real Estate Update

The Saskatoon real estate market has been a busy one in February. MLS sales are up 22% from 2010 while listings are only up 9% from 2010. The most active price range of houses for sale in Saskatoon last month was $250,000-$275,000 which indicates the entry level homes are the hottest commodity right now. With the changes in mortgage rules that does not surprise many of us.

The average price for Saskatoon homes for sale is almost the same as 2010 and the overall average house price in Saskatoon is up 4% from last year at this time.

Optimism in Saskatoon’s economy remains high and this is seen by the amount of people expressing interest in moving here from other provinces, renters wanting to purchase a house or a condo for sale in Saskatoon and existing Saskatoon home owners moving up. Job creation in Saskatoon remains steady so the forecast for the rest of 2011 is for a balanced market and resale prices to increase slightly due to demand.

If you are waiting to buy a home for sale in Saskatoon and hopeing for ‘prices to go down’ this doesn’t appear to be happening any time soon. A steady increase seems most likely so instead of paying 100% interest by renting in Saskatoon you may want to talk to your local Saskatoon mortgage broker or Saskatoon Realtor (R) to discuss how to get started in the Saskatoon real estate market. If you are a first time buyer in Saskatoon and don’t know where to start I can help you with the entire process.

Kari Calder
CENTURY 21 Conexus Realty Ltd.

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