The amount of active listings on the market are now just over 1500. This is down roughly 800 listings in the last 6 months. Many factors contribute to this positive news such as increased activity levels month over month, unit sales have increased 11 % in January over last year at this time, and recent changes to mortgage rules have encouraged some buyers to purchase before they came into effect last month. As a result, most areas of the market have seen many properties absorbed and inventory level becoming more balanced.
It is still very early in the year and we will continue to see many new and used homes hitting the market this spring. Even builders are gearing up and planning to increase the volume of their production this year. This will partly depend on what new phase’s are released from the major land developers in Saskatoon. Overall we see positive signs moving forward.
The market has seen many changes in the last 6 months. Homes are selling at market value but only when the proper preparations are taken.
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.