Remax forecasts gains in unit sales and home prices for Saskatoon in 2011

Remax released its Housing Market Outlook for 2011today calling for more balanced and stable real estate markets across Canada. Here’s a short excerpt on what they’re predicting for Saskatoon.

"Given the outlook, in-migration to Saskatoon is set to pick up once again, which will further bolster housing demand. A more diversified local economy will continue to support population growth, as cutting-edge projects like the Canadian Light Source Synchatron attract some of the best and brightest minds from Canada and abroad. Strong growth in new residential construction in 2010, and healthy starts predicted for 2011, will also support a rise in sales. First-time buyers are expected to drive demand for product priced from $250,000 to $350,000, while move-up buyers dominate the over $350,000 threshold. Investors should return to the market in increasing numbers next year, snapping up well-priced condominium and single-family properties, prompted by a vacancy rate that continues to hover near two per cent. Home sales are forecast to climb three per cent to 3,600 units by year-end, while average price posts a five per cent gain to $310,000 by year-end 2011."

The entire report is available here.

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