Michael Kinar

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Market Shows No Sign of Slowing Down in February

 

Information summarized from SRAR March 1 st media release

 

  “The real estate market in the Saskatoon area is showing no sign of slowing down”, reports Jason Yochim, the Executive Officer of the Saskatoon Region Association of REALTORS®. The year to date residential sales dollar volume of $180,802,565.00 is up a whopping 30% over 2011.

 

“Buyers continued to be active in the market place with sales outpacing the number of new listings,” said Yochim. “Unit sales year to date are up 21% while the number of units listed is up only 2%. This resulted in an increase of 7% in the average sale price to $313,893.00 compared with $292,510.00 last year.”

 

For the number of units sold year to date, there was a 41% increase in homes priced between $300,000.00 and $500,000.00. Properties located west of the river enjoyed the highest average sale price increase at 12%.

 

Yochim concluded that Saskatoon continues to enjoy a balanced market with a sales to listing ratio of 52%, “This means that one out of every two homes listed are selling. However, if the number of sales continues to outpace new listings, we will lean more towards a sellers’ market”. The economic growth coupled with a supply imbalance, will continue to mean this is a good time for homeowners to consider capturing more equity from their properties. “Now is definitely a good time to put your home up for sale”, Yochim summarized.

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