Sales soften in Saskatoon but prices continue to rise

Last month 343 homes sold compared to 369 in April 2010, a 7% drop, according to the Saskatoon Regional Association of Realtors (SRAR). Over the same period, the average residential selling price was up 6%, reaching $315,866 last month.

An improved balance returned to the Vancouver real estate market in April, as the recently heated sales activity dropped and home price gains slowed.

Most of the sales activity has lately been concentrated in the $300,000 to $350,000 price range, according to the association. A good sign is that optimism in Saskatoon’s economy remains strong, said SRAR Executive Office Harry Janzen. Another important factor, he said, is that new home sales activity remains very active.

Forecasting the rest of the year, Janzen predicted a balanced sales activity with an increase in prices due to the continued strong demand.

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