The Moose Jaw housing market is looking healthy, as increases in the number of homes for sale remain steady, as well as property prices for the past two years.
“We are sitting at about 11 and half months of inventory right now,” said Mike Walz, president of the Moose Jaw Real Estate Board.
He added that even if there won’t be another house listed for the next 11 months there will still be enough houses to accommodate market demand for close to a year. In fact, 77 new homes were built in Moose Jaw for 2013 alone.
The average asking price for a residential home in Moose Jaw is at $270,000, Walz said, and the average sale price is $250,000.
“There’s certainly a strong inventory there and that’s why I’d say it maybe plays a little bit more to the buyer’s market from the seller’s market,” he said.
An analyst of the Canada Mortgage and Housing Corp. shares the same expectation as Walz’ and that the market hasn’t changed since 2010.
“If you look at the conditions between the buyers and supply on the market, specifically in terms of the search indicators, the numbers suggest that the market is still in balanced conditions,” said Ekaterina Kortava.
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