Sales of homes in the Saskatoon market held steady in January, roughly in line with a year earlier and around 17 per cent below the 5-year average for the month. There were 174 sales while new listings were down 5.5 per cent year-over-year to 683. The average selling price was down 1.2 per cent at $354,000 while the composite Home Price Index was $305,400 at month end, down 1.4 per cent from the same time last year.

The Saskatoon Association of Realtors says that there were fewer building permits issued and that buyers are waiting for the spring buying season. Total inventory remains lower than average and homes are taking 50 days to sell at 97 per cent of the asking price on average.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

More market watch: