RECORD SETTING MONTH FOR SASKATOON REAL ESTATE

The real estate market continues to heat up.  We are seeing many parallels to the early 2007 market, including multiple offers on listings.  A quick example of this was a listing I recently had in Confederation Park, which sold for over $20,000 above list price, while generating 8 offers.

In Saskatoon, the average selling price in February was a record setting $264,269.00, up 41% from last February.  The six month rolling average price is $254,648.00.

The out of town market continues to be strong, with the number of sales in the smaller communities around Saskatoon up 21% from a year ago.  The average price in these areas also climbed, with the average price being $218,931.00 (up 37% from February 2007).

The market demand is being fuelled by many factors.  All signs point to a very busy spring market.