2011 Residential Sales Market Begins on a Positive Note
Information summarized from SRAR February 1st media release
The 2011 residential resale market started on a positive note with Saskatoon REALTORS® assisting 195 home buyers with the purchase of their dream home. This number was up 10% from January 2010. The $300,000 to $350,000 price range continues to be the most active. The average number of days to sell in the month of January was 43 days.
The average residential selling price in January was $300,353.00 this number up 11 % from January 2010.
In areas surrounding Saskatoon, sales activity was very active with 57 homes selling that number up 73% from January 2010. REALTORS® listed 214 properties in these areas in the month of January. That number is up 60 % from January 2010. The average number of days to sell in areas around Saskatoon during the month of January was 60 days.
The new home market remains strong with steady city lot sales taking place. Interest rates remain unchanged being favorable to purchase that next home. Job creation in the Saskatoon area remains steady. The forecast for the remainder of 2011 is for listing and sales numbers to continue to balance and for prices level or move up slightly due to demand.