A growing population and attractive interest rates should spark more activity in Saskatoon's housing market in 2011.
That's according to the Saskatoon Region Association of Realtors (SRAR).
The association expects the housing market to grow after a weaker year that saw the number of home sales drop from 3,819 in 2009 to 3,558 in 2010 - a decline of 7 per cent.
However, the average selling price still climbed 6 per cent, to over $296,000. The average price of a detached house in December 2010 was $300,693, up 3 per cent from December 2009.
SRAR suggests the housing market is more stable now than the hyperactive scene seen in 2008, when the boom in commodity prices and real estate values was in full swing.
"All indicators point to an active 2011 housing market. Optimism begins with the many economic development projects planned not only for Saskatoon but also in many areas of the province," SRAR states.
In-migration continues to increase with those moving to Saskatoon, from offshore and within Canada, "providing a catalyst for the housing market," said SRAR executive officer Harry Janzen.
from Western Investor, February 2011
