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Housing sales in Saskatoon continue upward trend in June: SRAR

The Saskatoon Region Association of Realtors said housing sales in June rose for the fourth consecutive month.
The Saskatoon Region Association of Realtors said housing sales in June rose for the fourth consecutive month. File / Global News

Home sales in Saskatoon continued to improve in June, the Saskatoon Region Association of Realtors (SRAR) reported on Thursday.

SRAR said 372 homes were sold during the month, up six per cent from a year ago, as the market returned to balance.

READ MORE: Housing sales up 16% in Saskatoon during May as condo sales increase

It continues a trend that started in March when sales jumped 11 per cent and carried into April and May when sales rose 18 and 16 per cent respectively.

“Fewer listings and a renewed interest from first-time homebuyers have helped support the Saskatoon market,” said SRAR CEO Jason Yochim.

“We’re in a fairly balanced market, as demonstrated by a sales-to-listing ratio of 47 per cent.”

READ MORE: Housing report predicts Saskatoon, Regina homes to drop in value

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SRAR said fewer homes were listed during the month when compared to June 2018 – 784 and 871 respectively.

The benchmark price for a single-family home rose 0.7 per cent to $309,900, while the price of condo-style apartments continued to rebound, with the benchmark rising 3.7 per cent in June to $175,300.

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Yochim believes the figures indicate a “renewed confidence in the market.”

“There may also be some pent-up demand. Prudent buyers are sensing that this is the time to buy in this market.”