Michael Kinar

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2010 Housing Market Ends on a Positive Note
Information summarized from SRAR January 3rd media release

The 2010 housing market has ended as forecasted. Unit sales activity was expected to soften slightly from 2009. The 189 sales in Saskatoon declined 10% from December 2009, the year to date unit sales number stands at 3,558 down 7% from the 2009 year end figures. Saskatoon REALTORS® sold $1,054,512,974.00 of real estate in 2010; this number is down 1% from the 2009 year end figures. The number of days to sell was 48 in December.
Stable prices should be seen as a positive. It suggests a reasonable balance between buyer demand and sellers wishing to sell their home. The average selling price in the month of December was $300,693.00 up 3% from December 2009. The year to date average selling price is $296,378.00 up 6% from 2009.
274 home owners placed their property on the market in December that number up 30% from December 2009. Year to date 6,757 homes were listed for sale up 5% from 2009. The market continues to correct from the activity experienced in 2008 when year to date listing numbers stood at 8,135. Home buyers had 790 residential properties to select from at the end of December.
Activity in and around Saskatoon was similar to that of the city. 38 properties sold, that number down 19% from the strong market in December 2009. The average price in these areas in December was $295,905.00 up 14% from 2009. The year to date average selling price was $257,426.00 on par with 2009. REALTORS® listed 93 homes in the areas around Saskatoon that number up 11% from December 2009.
All indicators point to an active 2011 housing market. Optimism begins with the many economic development projects planned not only for Saskatoon, but in many areas of the province. In migration continues to increase with those moving to Saskatoon contributing to the local economy in many ways in addition to providing a catalyst for the housing market. Even though interest rates have edged up slightly they remain attractive for those needing to mortgage the purchase of a home.


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