Saskatoon Real Estate News March 6, 2012

Current Saskatoon Real Estate Market-February Update

The Saskatoon real estate market is showing no signs of slowing down. The current year to date residential sales volume is up a huge 30% over 2011. The total sales volume for the year is already $180,802,565.00

Buyers continued to be active this past month with unit sales up 21% and listings were only up 2% which means an increase of 7% in the average sales price of Saskatoon real estate. The new average sale price is $313893 over $292510 from the year before.

The west side of the city saw the highest average sale price increase of 12% and there was an increase of 41% for houses priced between $300,000-$500,000. We are still at a balanced market with a sales to listing ratio of 52% which means that one out of every two homes for sale in Saskatoon are selling. So the current Saskatoon real estate market is balance but if the number of sales continues to outpace the number of new listings this means we will find ourselves in more of a seller’s market. What does this mean? Now is a good time to sell your home. Our economic growth along with lower numbers of houses for sale in Saskatoon means this could be a good time to sell.

Currently homes on the east side selling between $300,000 and $350,000 continues to be the hottest market with the most buyers and this price range is very competitive. I have seen several houses for sale in Saskatoon selling for or above list price in this range and I also see some offers coming in with very few conditions.

We are looking at 888 houses or condos for sale in Saskatoon in February which is up from 786 the year before but with sales up 24% from the year before. The number of REALTORS in Saskatoon has also jumped another 10% this year from 2011 and we are at almost 500 Saskatoon real estate agents.

If you are looking for a house for sale in Saskatoon make sure you have a trusted Saskatoon REALTOR(R) on your side to help navigate the process and take care of you.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Fusion