Third Quarter Residential Unit Sales Up from 2008 by Shah Ahmed-Remax Saskatoon-3063412739

The real estate market in Saskatoon and surrounding area was brisk in the month September. REALTORS® assisted 351 homebuyers in the purchase of a home, that number up 43% from September 2008 when 242 homes were sold. The residential year to date unit sales number stands at 3,048 up 3% from 2008 when 2,996 homes exchanged hands.








The average residential selling price in September was $279,457.00 that number down 6% from September 2008 indicating more activity in the low to middle price range homes. The average selling price has remained steady throughout 2009 beginning in January at $278,545.00 reaching a high in July of $283,871.00. The strongest sales activity remains in the $300 to $350,000.00 dollar price range.







The average residential price is derived by taking the month’s dollar volume of homes sold and dividing that number by the unit sales number. The percentage of change should not be used unilaterally as prices vary from area to area. Consumers wishing an accurate estimate of value for their home should contact a REALTOR® member to do a comparative market analysis.







REALTORS® sold $ 98,089,304.00 of residential real estate in the month of September up 34% from 2008. Year to date dollar volume stands at $848,202,479.00. Listing inventory continued to correct with fewer properties being listed and more current inventory being sold. REALTORS® placed 516 properties on the market in September that number down 37% from September 2008 when REALTORS® listed 825 homes. Home buyers had 1097 properties to choose from at the end of September.







Sales activity in surrounding communities remained strong with 119 homes being sold up 65% from September 2008 when 72 homes exchanged hands. The average selling price was $271,401.00 up 18% from September 2008 when the average selling price was $229,271.00.







Similar sales activity is expected to remain throughout the four the quarter of 2009. Market stability will continue to improve as inventory levels decline. The resale and new home market are being fueled by low interest rates, product availability and consumer optimism in the local economy.







Harry H. Janzen, CAE



Executive Officer



Saskatoon Region Association of REALTORS®

Should I Purchase My Home Now or Wait for the Market to Stabilize? Shah Ahmed Remax Saskatoon

Should I Purchase My Home Now or Wait for the Market to Stabilize?

Many people are debating whether they want to buy a property now or whether they should wait. They are getting mixed messages from the media about the market conditions and the state of the economy. Reports are indicating that the real estate market is rebounding. However, we are still hearing negative news about businesses folding and job losses. So is now a good time to buy?



The decision whether to buy a home now or wait is very tricky at the moment. On the one hand you have very low mortgage rates as the Bank of Canada had cut the interest rate several times in the last few months to try and get the banks lending again. Deals as low as 2.75% are being advertised to entice new customers into the market and get the chain moving again. Also, property prices have dropped in the last year and there are many good deals to be made.

On the other hand, there is still the question whether housing market prices will hold or drop further. Potential buyers are wary about taking on such a huge borrowing to find that the dream house they have just bought may be worth appreciatively less in six months’ time.

House prices are cyclical. A low market is always a good time to buy even though it may be several years before the market rebounds. The property market will rebound. If you are in a position to buy a house and can afford the repayments, buy now. Waiting to buy could result in paying much higher prices in a rising market.

Are you really ready?

It is also important to consider how long you will be in the home that you are about to purchase. Once you buy the home, it may be very difficult to resell right now. If the market continues to drop and you end up moving and selling in a year, you may have been wiser to wait a bit longer. So that is something that you want to make sure that you consider when making the decision to purchase a home.

Of course, if you have a long-term plan to be in the home, the fluctuations and potential decrease in value in the near term doesn’t need to get you down, as the only price that matters is the price you are able to sell for when you need or want to move.

Another thing that you need to think about is if you can afford the home that you are considering buying. While prices have dropped recently, you want to make sure that you find a home that is going to fit your budget. As a precautionary measure you should also budget for the fact that the cost of living might rise even further, and that being able to afford these increases will be important.

If you have the funds available for a down payment and you are eligible for a mortgage, and feel comfortable about your job security, and currently meeting the rising costs of living fairly easily; then the time is probably right for purchasing property. It is still a buyer’s market, so find your dream home, negotiate your best deal and jump in. Buying property now is one of the best times in the last hundred years to get a bargain.

Saskatoon Real Estate, Saskatoon homes. Saskatoon Houses for sale

Shah has been selling Saskatoon Real Estate. Experienced in all aspects of residential Real Estate and offers consistent, top quality service to my clients.So whether you are planning on buying your first home or selling your existing home, I believe on working hard with the heart. Specialized in Residential Homes,

Wondering about the price of the house, You like to buy or sell. Call first to ShahAhmed for Saskatoon & Area. 3063412739

Brand new construction. New Houses of any kind.
Renovations,
Basement developments.
Landscaping,
Decks,
Fence.

PLEASE check out other pages WHY, BUY WITH ME (most secured buying experience)
WHY, SELL WITH ME (if you want to get the most money)
Hire Shah . . .
Call: 1 (306) 341-2739
Experience the Real difference
Shah Ahmed.
The Realtor that Really Works!


Visit me at http://www.saskatoonagent.ca/ for MLS listings.

http://www.shahahmed.com/
My Email is Shah@shahahmed.com
Phone : 306 341 2739.