Tuesday, March 2, 2010

Saskatoon Real Estate Sales Brisk In February

Saskatoon real estate residential home sales brisk for month of February.

Warmer weather and possibly the Olympic spirit brought numerous home buyers out in
the month of February. 236 homes were purchased in February that number up 12% from
February 2009 when 219 homes were purchased. The average selling price was
$291,056.00 that number up 4% from February 2009 when the average was $280,784.00.
The average number of days to sell a property in February was 34 days indicating a
steady active market environment.

The average residential price is derived by taking the month’s dollar volume of homes
sold and dividing that number by the unit sales number. The percentage of change should
not be used unilaterally as prices vary from area to area. Consumers wishing an accurate
estimate of value for their home should contact a REALTOR® member to do a
comparative market analysis.

REALTORS® listed 464 residential properties in February that number down 18% from
last year at this time verifying continued inventory correction. Year to date listing
numbers are down approximately 20%. Home buyers had 866 home to select from at the
end of the month.

Residential sales activity in communities around Saskatoon was down slightly from 2009.
38 homes were purchased in February as compared to 44 being purchased in February
2009. The average selling price was up 3% at $265,011.00. Year to date 307 properties
have been listed in these areas around Saskatoon, this number represents a 7% decline
from 2009.

Consumer confidence is certainly being verified by the number of home buyer inquires,
open house attendance and increased daily www.onlineopenhouse.ca website hits. Interest rates are favorable; there is a reasonable inventory level in both new and existing homes, all
necessary components for a healthy market place. Activity is expected to increase as we
approach the spring market.