Reported By Chris Carr
Posted December 3, 2009 - 7:55am
Don't expect the for sale sign to be out there for very long. Saskatoon's housing market is ending the year on a high note, and will remain that way heading into 2010. The Saskatoon Region Association of Realtors says one billion dollars of residential real estate transactions have been made already in 2009. That's a three percent jump from last year. Executive Officer Harry Jansen says now is a great time to be in the market, as a buyer or seller.
"We certainly had a very high inventory through 2008 due to the frenzy of the market in 2007. So actually with our inventories coming down, we're at a more reasonable level which is creating a balance."
Jansen says reduced inventories has meant a greater balance in Saskatoon's housing market in 2009.
"We're certainly seeing a drop in inventory which makes it easier for the seller because if there are so many properties on the market, you really do get into a competition. So there certainly is more of a balance there, with a bit of an advantage to the seller."