All of the declines in Saskatoon’s average selling price can be attributed to the category of single-family detached houses which dipped to $190,652 in January from their peak of $199,255 in December. The decline doesn’t really serve as an indicator that prices are going down, rather an absence of a few larger high-end sales which were present in the December stats.
Condos, on the other hand, took a massive jump forward on the price scale leaping from an average of $144,363 in December to $161,279 in January. This particular market is showing some real strength. It seems that consumers are feeling strongly that prices will rise and they’re willing to pay a hefty price in the condo market for what still feels like an affordable home. These units also appear to be a target of out of province investors looking to place money in Saskatchewan.
I’m always happy to answer your Saskatoon real estate questions.
Norm Fisher Royal LePage Vidorra