If you’re looking to buy a condo in Saskatoon, it’s a buyer’s market! Great deals can be had for apartment and townhouse condos throughout the city. The main reason why: overbuilding. Currently the number of new condominiums for sale is up 35% over last year.
Many condo developers began projects two years ago and are now just coming onto the market leaving a surplus in inventory. This surplus is leading to price decreases, creating an opportunity for buyer’s looking to get into a condo.
The average price for a condo is $226,186, a decrease in 10.1% from last year.
The price for two story homes in the city, meanwhile, is up slightly, while the average price for a bungalow is down less than 1 per cent. Overall, the average price of a home in the city in the first quarter of 2016 remains virtually unchanged at $373,658.
Saskatoon real estate agent
Century 21 Fusion