Saskatoon Real Estate market activity has now consistently produced consecutive weekly sales totals around 100 for the first time in months. Last week there were a healthy 99 total sales reported to the Saskatoon MLS (65 single family, 28 condominiums) which is 10 less than the previous week, and 4 more than the same week period in 2012. Last week the average price was $324,376 and is considerably lower than the current monthly average $352,860. The monthly average price of April 2012 was $341,695. This is a considerable increase year over year of $11,165. Properties are beginning to spend less time on the market, as the week closed out at 29 days from list to firm sale, while the average selling price under asking was $4603.
Currently there are 1192 active listings in Saskatoon (717 single family, 389 condominiums). Inventory levels in Saskatoon last year were slightly lower (662 single family, 381 condominiums). Last week there were 154 new listings (110 single family, 37 condominiums) posted to the local MLS, 3 less than the same week period in 2012. Listing and sales activity seems to be following a similar pattern to last year, which is promising for the rest of the summer. Interest rates are as low as 2.79% for a 5 year fixed, which is extremely affordable.
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