Happy new year everyone! The Saskatoon real estate market has seen the usual seasonal slow-down which occurred prior to Christmas and continued on through last week. Sales last week were very minimal as only 20 firm deals were posted to the Saskatoon MLS. The average sale price was $313,105, while the average days on market was 47. The average selling price was $3995 under asking. These numbers don’t reflect much because of the small sample size and I wouldn’t read too much into them. Last year during the same week period there were 38 sales, which is nearly twice the amount that sold in 2013. The average price during the first week in 2012 was just shy of $295,000, so that’s a positive that prices have increased.
Currently there are 898 listings (543 single family, 270 condominiums) on the Saskatoon MLS, in comparison to 2012 when there were (506 single family, 295 condominiums). Ultimately there was little change year over year in terms of inventory. Last week there were 96 new listings (62 single family, 30 condominiums), whereas in 2012 for the same week period there were 128 new listings.
In 2012 Saskatoon set a record for building permits with a total of 5,196 and grossing over $1 billion in value. According to SRAR in 2012 the average Saskatoon sale price ended slightly under $332,000 at the end of December. Whereas the average price in the rural Saskatoon remained status quo with an increase of only one percent for the year, and were up 5% from the numbers in 2011.
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