February Real Estate Review:
Buyers have been very active in Saskatoon’s Real Estate market. We have seen a 6% decline in the number sales over last February but year to date the numbers are actually up 1% over last year. When you consider we had 12 days of -40 in February, these are fantastic numbers and activity will continue to increase as warmer
Inventory levels are still seeing a decline over last year of 4%. Single family homes only account for roughly 58% of the market which has created a level of urgency when looking to purchase. On the other hand we still have an excess of condo’s which accounts for roughly 42% of the market share and could see some adjustments in the near future. All in all we are seeing more confidence in the market by consumers. This a great news for our Spring market!
Spring always brings many new and used homes to the market which will help meet some of these demands.
When selling your home it is crucial to price at market value and have your home ready to show. The proper de-cluttering, staging, professional photographer and marketing is also a must in our current market to help buyers see value.
As always, if you need help buying or selling please do not hesitate to contact us at any time.
Gregg Bamford and Ryan Bamford