Sales in the Saskatoon real estate dropped off considerably in the first week of August, as there were only 70 firm sales reported to the local MLS. After seeing such high sales activity and most notably in entry level prices (-$300,000) two weeks ago, the market came back to normalcy last week. The average price last week was $340,727 and the average days on market was 35, while the 4 week average is $345,669 and 35 days on market.
Currently listing inventory is at a very healthy level even though the amount of new listings cooled last week as only 144 new listings (104 single family, 32 condominiums) were posted to the local MLS. Two weeks ago 176 new listings were posted. There are now 1373 active listings in Saskatoon (826 single family, 445 condominiums) which is considerably higher than the 758 single family homes and 403 condominiums listed during the same period last year.
If you have any questions about the current market, or if you’re thinking about buying/selling contact us at firstname.lastname@example.org