After a torrid pace before the holiday break, the Saskatoon real estate market has slowed down as seasonal demand has dropped for the short term. Last week there were only 39 sales reported to the Saskatoon MLS, which is 3 more than the week previous. In 2011 during the same week period there were only 24 sales reported, so sales are up slightly when comparing year over year. There were 99 listings posted to the MLS in Saskatoon last week which is up from just 21 during the previous week. Whereas in 2011 during the same period there were 124 listings posted. Ultimately sales are up slightly and listings are down slightly. I wouldn’t read into either of these numbers in terms of forecasting the market as it is expected things should pick up shortly especially with such favourable weather of late. Currently there are just under 900 MLS listings (587 single family, 275 condominiums) in Saskatoon which is around par with the previous week and up slightly from the same period in 2010. Last year there were 467 single family and 341 condominiums which could help the condominium market prices for the short term as selection is down. The average sale price last week was just over $313,000 and sellers achieved an average of $8,891 under asking price.
If you are thinking about buying or selling, now is a good time as interest rates are extremely favourable and the market isn't flooded with listings. If you have any questions about the Saskatoon real estate market please email them to: email@example.com