For the week ending August 14, New Listings in the Saskatoon region were 20.5 percent higher than last year at this time, with 212 new homes coming onto the market.
Buyer activity remained below last year's levels for the fifth consecutive week, but improved over last week. There were 97 Firm Sales recorded, down 15.7 percent when compared to the same week in 2009.
Inventory levels continue to trend up and up versus last year. Now at 2,733 Active Listings for Sale, that is 14.1 percent ahead of last year. The 3-month average is up by 2.5 percent, but the past few weeks have experienced a noticeable bump in listing activity. This could be due in part to improving selling conditions.
Based on July figures, sellers could expect to receive 97.2 percent of their current list price, with a Median Sales Price of $272,500 (a 2.1 percent increase) and market times of 41 days (a 15.8 percent decrease). The 6.6 Months Supply of Inventory figure suggests a balanced market, especially since that figure has decreased 14.3 percent from July 2009 levels.