Warmer
weather and possibly the Olympic spirit brought numerous
homebuyers out in the month of February. In February 2010, 236
homes were purchased – which is up 12 per cent from February
2009 when 219 homes were purchased. The average selling price
was $291,056.00. That number is up four per cent from February
2009 when the average was $280,784.00. The average number of
days to sell a property in February was 34 days indicating a
steady active market environment.
The
average residential price is derived by taking the month’s
dollar volume of homes sold and dividing that number by the
unit sales number. The percentage of change should not be used
unilaterally as prices vary from area to area. Consumers
wishing an accurate estimate of value for their home should
contact a REALTOR® member to do a comparative market analysis.
REALTORS®
listed 464 residential properties in February. That number is
down 18 per cent from last year at this time verifying
continued inventory correction. Year to date listing numbers
are down approximately 20 per cent. Homebuyers had 866 home to
select from at the end of the month.
Residential
sales activity in communities around Saskatoon was down
slightly from 2009. 38 homes were purchased in February as
compared to 44 being purchased in February 2009. The average
selling price was up 3 per cent at $265,011.00. Year to date
307 properties have been listed in these areas around
Saskatoon, this number represents a 7 per cent decline from
2009.
Consumer
confidence is certainly being verified by the number of home
buyer inquires, open house attendance and increased daily
REALTOR® website hits. Interest rates are favourable; there is
a reasonable inventory level in both new and existing homes,
all necessary components for a healthy market place. Activity
is expected to increase as we approach
the spring market.
