Last week was an active period in the Saskatoon real estate market as numbers were right on par with what we’ve seen of late. Sales numbers dipped slightly below the century mark as there were 97 sales (68 single family, 26 condominiums) reported to the Saskatoon MLS. The average sale price remained status quo at $328,662 and the average days on market bumped up to 30. The average sale price was $8446 under asking price which is roughly $2000 less than the norm (around $6500 under asking price). With the average asking price lower than usual, there were an impressive 6 overbids last week. This doesn’t make sense, however what we’ve seen in the market lately are sellers trying to list their properties at a higher price due to the active market in hope that they can get a little more for their property.
Currently there are 1261 active listings in the Saskatoon real estate market (775 single family and 407 condominiums), whereas in 2011 during the same period there were 801 single family and 518 condominiums. The number of single family listings are almost on par with last year, however the number of condos are still lagging behind. Listing numbers shouldn’t increase drastically this year.
For more information on the Saskatoon real estate market or if you’re thinking about buying or selling, contact us at firstname.lastname@example.org