A cool housing market in Saskatoon in 2017 may be heating up.
Although year to date home sales are still down 6-percent, November numbers are on the rise.
The Saskatoon Region Association of Realtors said there was a 7-percent increase from November of 2016, with a total of 257 residential sales.
The Association attributes the increase to the fact it’s a buyer’s market and impending mortgage rule changes that will affect conventional buyers as of January.
Association statistics indicated there were 1,826 listings in the city at the end of November, an increase of 8% from last year and it took almost two months on average for a home to sell during the month.
Homes in the 300-to-500 thousand dollar range account for about half of all homes sold this year in Saskatoon.
The real estate market in surrounding communities is hot, as the Association points to a 22-percent increase from November of last year with 71 transactions, including 34 in the cities of Martinsville and Warman.