Saskatoon home sales ahead of 2010 pace

Courtesy: The Star Phoenix

Unlike the ever-changing warm and cold weather in March, the city's housing market was stable and temperate last month, the Saskatoon Region Association of Realtors (SRAR) says.

The group reports 346 homes were sold in the region in March, a four per cent drop from the 359 home sales in March 2010. Year-todate, however, local house sales are up by six per cent to 821, compared to 772 duirng the first three months of last year.

While the number of homes sold in the region in March fell, the average purchase price rose. SRAR says the average house in Saskatoon sold for $294,025, up four per cent from March 2010 when the average selling price was recorded at $282,393.

Sales in the $300,000 to $350,000 price range continue to be the most popular in the city, the association said.

A total of 694 houses were listed for sale in March, a six per cent drop from the 739 homes put on the market in March 2010. Year-to-date, 1,769 properties have been listed for sale, an 11 per cent increase from the same period last year when 1,599 homes were put up for sale.

At the end of March, a total of 1,219 houses were available for purchase in the Saskatoon region.

"The new home market remains strong with steady city lot sales taking place. Interest rates remain unchanged being favourable to purchase that next home. Job creation in the Saskatoon area remains steady," SRAR's March report says.

"The forecast for the next quarter of 2011 is for listing and sales numbers to continue to balance and for prices to level or move up slightly due to demand."

Outside of the city, 91 homes sold in surrounding communities in March, a six per cent drop from the 96 such homes that were sold in the same month last year. An average sales price was not reported.

During the past month, 274 homes were listed for sale in outlying towns and cities, a nine per cent increase from March 2010 when 300 houses were put on the market. Year-to-date, 664 homes have been put up for sale, a nine per cent increase from the first three months of last year when 607 homes in outlying communities were listed on the market.

The Matthew Olsgard Team

The Matthew Olsgard Team

CENTURY 21 Fusion
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