Despite a slight 5-per-cent annual drop in home sales, Saskatoon continues to be a strong buyer’s market with its stable inventory levels, along with low interest rates and steady property prices.
In its latest market report, the Saskatoon Region Association of REALTORS® stated that 2,183 listings were active in its jurisdiction as of the end of August.
The Association cautioned, however, that “it is only a matter of time before the market shifts as it always does.”
“In the coming months, home buyers will look back with hindsight and realize how opportune the market was with all of these elements in place,” CEO Jason Yochim said.
“The concern is that buyers waiting for the bottom of the market in order to make a purchase, may end up paying more when buying on the upswing,” the Association added.
The average price year-to-date fell by 1 per cent, down to $347,414. Meanwhile, the median price declined by 1.5 per cent, down to $329,950. The total dollar volume for the region was 9% lower compared to a year earlier, at $1.139 billion.
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