As expected, sales numbers increased by 22% last week as there were 94 sales (75 single family, 16 condominiums) posted to the local MLS. The Saskatoon real estate market was caught in a bit of a lull two weeks ago as there were only 64 sales during the period. As discussed in last week’s blog, this was mostly due to the Easter break. However it was a significant dip in sales after a 2012 single week record 124 sales three weeks ago. Last week the average sale price was $346,596 with an average selling price of $6161 under list and an average days on market of 36. These sales numbers are reasonably average when comparing them to recent weeks.
While sales numbers rebounded last week, listing figures weren’t nearly as strong. Only 133 properties (85 single family, 44 condominiums) were posted on the MLS, pale in comparison to the 202 that were listed two weeks ago. Currently there are 1132 listings on the Saskatoon MLS (658 single family, 394 condominiums), which is a slight inventory increase as there were 1114 two weeks ago. In 2011, during the same period there were well over 1200 listings. In the weeks to come, I believe the market should balance out as listings will increase over the short term and sales numbers to remain status quo.
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