The Saskatoon real estate market has been steady so far in 2011. There have been 3776 homes sell so far this year which is up 12% from 2010. The busiest price range continues to be the $300,000-$350,000. We also saw more properties listed in 2011 than in 2010 which is up 5% to 6483 houses for sale in Saskatoon since the beginning of the year. Our total number of active houses or condos for sale in Saskatoon is 1084 which is up only 4% from the same month last year.
On average it takes a home 47 days to sell right now. If a home is priced right in Saskatoon it won't take too long to sell but if it is overpriced it will take longer and sustain market damage.
Our year to date selling price average is up from 2010 where it was just over $296,000 and this year it is over $314,000. This shows a 5% increase from the year to date average price in 2010 but this does not necessarily mean you can look at your homes value from 2010 and add 5%. This percentage varies area to area so if you are thinking about selling your house in Saskatoon you should contact a Saskatoon real estate agent to help you determine the best asking price and strategy for your home sale.
The positive trend in housing is expected to continue with our resources in and around Saskatoon remaining strong. The challenge will be for the city to continue to meet the demand for serviced lots and with those prices skyrocketing I would suspect we may see a stronger demand for resale homes that people can modify to their liking.
If you are thinking about buying a house in Saskatoon or if you are looking to sell your Saskatoon home contact me for quality service.
Century 21 Fusion