Sales bounced back in the Saskatoon real estate market in a big way as local Realtors reported 101 firm sales (62 single family, 36 condominiums) last week. Two weeks ago there were only 70 sales and the lull was likely due to the August long weekend, while in 2012 during the same week period there were 76 firm sales with an average price of $333,428. For the 101 sales recorded to the Saskatoon MLS, the average price was $350,030 with an average days on market of 37. The current 4 week average is currently $337,949 with 33 days on market. We have continued to see a high number of sales in entry level prices of late which is an indicator that more first time buyers are entering the market than usual.
Currently there are 1393 active listings (851 single family, 445 condominiums) in Saskatoon which is 20 more than the previous week. Last year during the same period there were 767 single family and 416 condominiums in Saskatoon, so inventory levels this year continue to be considerably higher. Last week there were a very healthy 182 new listings posted to the market which is much higher than the 144 posted the previous week.
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