The Saskatoon real estate market continued its solid production last week as 95 sales (64 single family, 25 condominiums) were reported to the local MLS, which is 7 more than the previous week. Sales numbers continue to impress of late in the Saskatoon market and this is evident as there were only74 firm sales during the same week period last year. The average price last week was $334,435 while the average days on market was 40, and these figures are roughly identical to the current 4 week average. One interesting development is that the current 4 week average has dropped in price from $341,465 in 2012. Ultimately sales are up and prices haven’t exactly been where they were a year ago because inventory levels are very high at the moment.
Inventory levels have dropped slightly, however listing figures continue to exceed the norm as there are currently 1353 active listings (838 single family, 415 condominiums) on the MLS. Last week there were 160 new listings (117 single family, 38 condominiums) posted to the MLS, which is 10 less than the previous week. Last year there were roughly only 1200 listings on the market during the same week period. Expect to see inventory levels start to decrease over the coming weeks.
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