Saskatoon housing market remaining strong through pandemic
A home for sale sign is shown in a Toronto west end neighbourhood May 8, 2020. (THE CANADIAN PRESS / Graeme Roy)
Now could be a good time to sell a home in Saskatoon, according to the Saskatchewan Realtors Association (SRA).
The most recent snapshot of the local housing numbers shows strong growth in July across several metrics.
The SRA says sales in Saskatoon in July were up 41 percent over the same month last year. And sales were nearly 37 percent above the five year average.
Homes also continue to sell faster, with listings remaining on the market for an average of 43 days in July, down from 52 days last year.
Prices also went up according to the SRA. In July, it says the Home Price Index rose 1.8 per cent from $309,000 to $314,900. And year-to-date, the median home price in the city rose 2.1 per cent from the same time last year.
“Members are still receiving multiple offers and some properties continue to be sold almost as soon as they’re listed,” said SRA CEO Jason Yochim in a news release.
“As a result, would-be sellers may be encouraged to list and help ease the declining inventory burden. And with children scheduled to return to school in September, August could see another strong push before life gets back to /normal' and Saskatchewan real estate activity begins its cyclical slow down.” the news release says.