Saskatoon real estate market update: March 12th - 16th

Last week the Saskatoon real estate market bounced back as 84 sales were posted to the local MLS, which are 25 more than the previous week and 12 more than the same week period in 2011. Currently the average sale price in Saskatoon is now hovering around $323,000, which is up from the previous weeks as we saw a greater amount of activity in the higher end of the market. The average price is up considerably from last year and continues to climb as interest rates remain very stable and affordable. The average days on market decreased last week down to only 29 days from 32 the week previous, while the average selling price under asking was $9006.

After a soft listing period in Saskatoon 2 weeks ago, the MLS gained 54 properties from the previous week as there are currently 1078 listings (624 single family and 256 condominiums). In total there were 143 listings (88 single family and 44 condominiums) added to the Saskatoon MLS last week. In 2011 during the same period we only had 976 listings in Saskatoon. The 2012 real estate market seems to be outperforming a very successful 2011, stay tuned to see how things shape up as spring begins tomorrow! Have an excellent week, if you have any questions about the market contact our team at thematthewolsgardteam@century21.ca.

 

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