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Saskatoon homes sales brisk in February 2010: SRAR

The Saskatoon Region Association of REALTORS® (SRAR) released the residential real estate statistics for February 2010 today, accompanied by this release.

Warmer weather, and possibly the Olympic spirit brought numerous home buyers out in the month of February. 236 homes were purchased in February, up 12% from February 2009 when 210 homes changed hands.

The average selling price was $291,056, up 4% from February 2009 when the average was $280,784. The average number of days to sell a property in February was 34 indicating a steady active market environment.

REALTORS® listed 464 residential properties in February, 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 homes 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 compared to 44 in February 2009. The average selling price was up 3% at $265,011.  Year to date, 307 properties have been listed in these areas around Saskatoon representing a 7% decline from 2009.

Consumer confidence is certainly being verified by the number of home buyer inquires, open house attendance and increased daily REALTOR® 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.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Norm Fisher
Royal LePage Saskatoon Real Estate