'Our biggest concern is supply': Saskatoon sees lowest number of homes listed since 2008
Saskatoon is facing a housing supply challenge, according to the Saskatchewan Realtors Association (SRA).
The SRA says 415 homes were listed in Saskatoon in January — the lowest level since 2008.
“Right now, our biggest concern is supply,” Cole Zawislak, the SRA’s director of public affairs, told CTV News.
“Inventory in Saskatoon is down 35 per cent when compared to 10 year averages.”
The SRA says rising lending rates, paired with inflationary pressures, is impacting how much buyers can afford and as a result, the market is struggling with supply.
Zawislak says supply is especially an issue in homes in the $300,000 price range.
“There’s a lot of folks looking in that market right now and there's just not enough there to take care of everyone who's looking,” Zawislak says.
As a result, Zawislak says there’s a stronger demand for condominiums.
About 200 Saskatoon homes were sold in January with an average listing price of $366,000, according to the SRA.
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