As we typically see in the real estate market this time of year, sales are tailing off as the weather cools down. Last week in Saskatoon there were just 45 firm sales reported to the local MLS which is 20 less sales than the previous week, a significant drop off. When looking at the current 4 week average, it’s evident that the Saskatoon market is ready for the seasonal slow-down as sales continue to drop. There has been an average of 63 sales per week over the past month, with an average price of $346,858, while the average house is listed for 55 days on the market. In 2012 there was an average of 59 sales per week (4 less than 2013), with an average price of $348,847 ($2,011 more than 2013) and the average house was listed for 47 days (8 days less than 2013) on market. Over the past month the prices have been skewed a little bit because of activity in the lower end of the market, dropping the overall purchase price. Prices have not dropped in 2013, in fact they’ve climbed and sometimes a single month isn’t a large enough sample size for data to tell the proper story. Listings have been sitting on the market a little longer this year, which is due to the high amount of competition on the market.
The most active neighbourhoods in sales volume are:
Stonebridge – 19 sales, Evergreen – 17 sales, Hampton Village – 12 sales, Willowgrove – 11 sales, Wildwood – 11 sales, Briarwood – 8 sales
There are currently 1218 active listings (746 single family, 348 condominiums) on the market, which is significantly more than the 606 single family and 313 condominiums listings in 2012. The overall listings number climbed slightly after a surprising 123 new listings were posted to Saskatoon MLS last week. At this time of year, 123 new listings is quite active. In 2012 during the same week period there were only 90 new listings posted.
For more info on today’s market or if you’re thinking about buying/selling, contact us here.