The 2011 residential resale market started on a positive note with Saskatoon REALTORS® assisting 195 home buyers with the purchase of their dream home. This number was up ten percent from January of 2010 when 178 homes were sold. The $300,000 to $350,000 price range continues to be the most active. The average number of days to sell in the month of January was 43 days.
The average residential selling price in January was $300,353 up eleven percent from January of last year when it was $270,265.
REALTORS® listed 531 homes in January, up thirty-four percent from the same month last year when 395 properties were listed for sale. Home buyers had 958 homes to select from at the end of January.
In areas surrounding Saskatoon, sales activity was very strong with 57 homes selling, up seventy-three percent from January of 2010 when just 33 homes were sold. REALTORS® listed 214 properties in these areas during the month of January. That’s up sixty percent from January 2010 when 134 properties were placed on the market for sale. The average number of days to sell in areas around Saskatoon during the month of January was 60 days.
The new home market remains strong with steady city lot sales taking place. Interest rates remain unchanged remaining favorable to home sales. Job creation in the Saskatoon area remains steady. The forecast for the remainder of 2011 is for listing and sales numbers to continue to balance and for prices level or move up slightly due to demand.
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.
Royal LePage Vidorra