Since CMHC tightened their rules in July, the Saskatoon real estate market has softened a little bit as some of the entry level buyers are now priced out of the market. As a result we have seen activity in the higher end of the market pushing the average weekly sales price to $350,633 which is a staggering $26,734 higher than the average two weeks ago. Last week there were an impressive 10 sales recorded over the $500,000 mark. In total there were 93 sales (64 single family, 24 condominiums) recorded by the Saskatoon MLS, while at the same period in 2011 there were 107 firm sales. The average days on market was 28 and the average selling price under list was $6878 and these numbers are very comparable to what we’ve seen in recent months.
Currently on the Saskatoon MLS there are 1251 listings (865 single family, 412 condominiums), which dropped 30 listings from the week previous. In 2011 during the same period there were 1395 listings, with the major difference in the condominium market. Last week there were an impressive 146 new listings (97 single family, 46 condominiums), which is a shade higher than the 139 listed two weeks ago.
For more information about the Saskatoon real estate market or if you’re thinking about buying or selling, contact us at firstname.lastname@example.org