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Saskatoon housing market surges in September

The Saskatoon Region Association of Realtors says the housing market in the city is currently balanced.
The Saskatoon Region Association of Realtors says the housing market in the city is currently balanced. File / Global News

Sales, prices and listings were up in the city during September, the Saskatoon Region Association of Realtors (SRAR) said Friday.

SRAR said 305 homes were bought during the month, an increase of 14 per cent from September 2018.

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The average price also rose from a year ago, from $319,500 to $351,750, an increase of 10 per cent SRAR said.

“The market is really balanced right now,” said Trevor Schmidt, the interim CEO of the association.

“It’s a really good situation for both seller and buyer.”

Fall new sneaky selling season for Saskatoon real estate market
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SRAR said listings increased 11 per cent year-over-year, from 657 in September 2018 to 717 last month.

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“With the sales to listing ratio being at 43 per cent, it indicates both sellers and buyers are able to come together and get deals done,” Schmidt said.

“If you go back six months, the market has been trending toward balance.”

READ MORE: House prices dip slightly, sales hold steady in Saskatoon during August

Sales in the city for the first nine months of 2019 are up seven per cent compared to the same period in 2018, from 2,677 to 2,855.

SRAR said the average price over the same period is relatively unchanged at $333,760.

Listings are off two per cent from 6,520 to 6,393 during the nine months.