The total number of sales in Saskatoon dropped off considerably last week as there were only 53 firm sales in Saskatoon (38 single family, 12 condominiums) reported to the local MLS. During the same week period in 2011 there were 73 sales in Saskatoon and two weeks ago there were 68. It’s safe to say that last week’s sales drop off is considerable; however the numbers could be an anomaly as there have been nearly 70 sales each week recently. The market remains attractive as interest rates are extremely low and average prices continue to improve year over year. Last week the average selling price in Saskatoon was $319,957, whereas in 2011 during the 3rd week in November the average was $318,033. The average days on market last week was 48, while in 2011 it was 45. Also the average selling price under asking was $5201 last week.
Currently there are 1070 active listings (630 single family, 340 condominiums) on the Saskatoon MLS, whereas in 2011 there were 668 single family and 383 condominiums. The ongoing trend in 2012 is that inventory levels have been considerably lower than the totals in 2011 and shows no sign of changing until spring. Last week there were 103 homes (70 single family, 22 condominiums) listed in the Saskatoon area, which is 20 more homes listed than the same period last year.
If you have any questions about buying or selling, or if you’re interested in more detailed market information please contact us at email@example.com
The Saskatoon Home Team
Matthew Olsgard & Tyler Frederick