The real estate industry is preparing for a busy year. Reports released by the Saskatoon Region Association of REALTORS® indicates that Saskatoon’s residential real estate market is off to a hot start with 236 homes purchased in the city in February, a 12% increase from the same month in 2009. February’s home sales averaged $291,056, a 4% increase in price over last year when February’s average selling price was $280,784. In communities surrounding Saskatoon, home sales dropped slightly last month when 38 homes sold, compared to 44 sales in February 2009.
Statistics released by the Association of Regina REALTORS® indicated the average selling prices of homes in Regina and the nearby area was $263,753 in February. That was not only the record for February but also the record for any month in the history of the Multiple Listing Service System.