Last week was the first time in the last 10 weeks that Saskatoon hadn’t reached the century mark for sales during a one week period. The number of sales didn’t dip too much however as there were still a healthy 91 sales (60 single family, 27 condominiums). In 2011 during the same week period there were 104 sales reported to the Saskatoon MLS which isn’t a huge discrepancy from the numbers last week. Last week the average sale price was $331,270 with an average days on market of 28 while the average sale price was $6960 under list. These average sale numbers are quite normal of late and are nothing to be concerned about at the moment.
Currently there are 1269 active listings (758 single family dwellings, and 433 condominiums), last year there were 841 single family dwellings and 518 condominiums. If you’ve followed our blog closely you would know that the ongoing theme in 2012 is that listing numbers are on the decline. On a more positive note, the number of listings posted to the MLS last week was 142 (91 single family, 41 condominiums) which eclipsed the 111 new listings from the same week period in 2011. If this trend continues you could assume that listing numbers will jump up over the short term, however sales should be just as brisk so I don’t foresee the listings reaching last year’s levels.
At the moment interest rates are very reasonable at 3.09%, it’s a very good time to buy and sell. If you have any questions about the current market conditions in Saskatoon or if you’re thinking about buying or selling, contact us at firstname.lastname@example.org.