There were 107 sales (73 single family, 25 condominiums) in the Saskatoon real estate market last week, which is slightly higher than the previous week’s total of 94 sales (75 single family, 16 condominiums). This is the second time since September 2011 that sales numbers in Saskatoon has eclipsed the 100 sales mark. Last week the average sales price was $341,841 and the average sale price was on average $8371 under asking price, with an average days on market of 29. Two weeks ago the average sale price was $346,596 with an average selling price of $6161 under list and average days on market of 36.
Currently there are 1138 listings (659 single family, 404 condominiums) on the Saskatoon MLS. Last week there were 181 new listings posted on the MLS which is an increase of 48 from the previous week. Listing inventory and sales numbers have both increased from two weeks ago, however listing inventory isn’t growing as anticipated for this time of year. A soft listing spring has left the Saskatoon real estate market with a bit of an inventory shortage because in comparison to 2011 during the same period there were nearly 1300 listings in Saskatoon. I had mentioned last week that we should see the market balance itself out with a listing push, however we haven’t seen it just yet. Stay tuned.
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