The Saskatoon real estate market continued at a torrid pace through the end of July into August as the century mark for total sales in Saskatoon was achieved once again last week. In total, 101 firm sales were reported to the local MLS. The most important stat here is that 82% of the total sales took place in the $400k or less range, driving the weekly average price down to $313,971. Houses in the lower price ranges are very active, while we’re seeing much less activity in the luxury market at the moment. The average days on market last week was only 31. Two weeks ago there were also 101 total sales, with an average price of $346,507 and an average days on market of 32. To put these numbers in perspective, over the past 4 weeks, the average is $345,199 while the average days on market is 34.
Currently there are 1356 active listings in Saskatoon (807 single family, 451 condominiums) which is a very healthy inventory number. Typically we see inventory levels drop off this time of year, however we are back to the same level as early June, which is atypical for early August. Last week there were 193 new listings posted to the Saskatoon MLS, which is well above average for this time of year.
This past July was the most active July on record since 2007 and likely in history (have not checked historically past 2007), which is outstanding. There were 465 sales in Saskatoon during July 2013 which is 28 more sales than the second most active July recorded in 2009. Here is a breakdown of the numbers since 2007.
Year Sales Avg Price Year % Increase
2013 465 $342,385 3.4%
2012 437 $330,574 8%
2011 405 $303,322 4%
2010 356 $290,411 2.3%
2009 438 $283,531 -3%
2008 344 $292,605 16%
2007 422 $244,327
Since 2010 we have seen the market improve incrementally each year, with the greatest improvement in 2012.
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