Saskatoon Real Estate Market Review - March 28th

Although it doesn’t feel like it, spring is arriving and sales in Saskatoon improved last week with the hopes of warmer weather. Last week there were 84 total sales reported on the Saskatoon MLS which is the highest recorded number of sales in  2011. Two weeks ago there were 14 less properties that changed hands in Saskatoon, and last year during the same period there were 94 properties sold. Contrary to the momentum in sales, listing activity is on a downward continuum as just 111 properties were posted to the local MLS, which is 5 less than last week and 21 less than the same period in 2010. Due to the unusual balance between sales and listings, the total active listing number grew slightly to 1173 (669 single family and 435 condominiums) in Saskatoon, which is up from last year’s number of 1016. Last year there were 595 single family homes and 368 condominiums on the market, so in a year over year comparison it is quite evident that the inventory levels are much higher this year. Historically, this time of year sees the greatest amount of listing activity and should continue for up to 10 weeks. So it should be expected that inventory levels increase in the weeks to come. The weekly average price in Saskatoon tallied at just over $290,000 as much of the week’s activity was in the lower end of the market and could be a result of first time home buyers snatching up properties before the mortgage rule changes came into effect. For information on the market or if you’re thinking of buying or selling, contact Matthew @ 381-3982 or Tyler @ 260-5129. Have a great week everyone!

The Matthew Olsgard Team

The Matthew Olsgard Team

CENTURY 21 Fusion
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