Housing prices in Saskatoon remained flat for the most part in September, but there was some upward movement in the benchmark value of apartment-style condominiums, the first increase in almost 11 years.
The Saskatoon Region Association of Realtors (SRAR) reported Wednesday the home price index (HPI) for a single-family home for the month was $312,200, the highest level for 2018, but relatively unchanged from the previous month.
The HPI for apartment-style condos was $176,200, the first increase in value since December 2007 when the benchmark was $190,600.
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There was a decrease, however, for townhouse properties. SRAR said the benchmark HPI decreased 2.4 per cent from the previous month to $219,700, the lowest it has been since April 2007.
Sales continue to remain off for the year as Saskatoon remains a buyers’ market.
“It seems that sellers who are not highly motivated are choosing to wait until conditions are more favourable to sell,” said SRAR CEO Jason Yochim in a statement.
“Currently we are in a buyers’ market with elevated levels of inventory and downward trending prices for most properties.”
SRAR said sales for the first nine months of 2018 are down five per cent from the same period last year to 2,679, with 268 properties sold in September.
Active listings are also down seven per cent compared to a year ago. SRAR said there were 1,944 active listings in September, with 648 of those new listings.
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