Saskatoon housing market sees downturn

Saskatoon’s housing market is feeling the effects of slower economic times.
 
The latest numbers from the Saskatoon Region Association of Realtors (SRAR) suggest that only four out of every 10 homes placed on the market will sell.
 
Only 39 per cent of city listings in August sold, compared to the five-year average of 54 per cent. And according to SRAR, last month was the eighth straight month in reduced home sales in Saskatoon.
 
“If someone is serious about selling their home they need to sharpen their pencil regarding price to ensure a successful sale,” SRAR CEO Jason Yochim said.
 
There are 26 per cent more homes for sale than there was a year ago, but sales have gone down 12 per cent.