Saskatoon real estate market review March 24-30

Last week on the Saskatoon MLS was the single most active week in real estate in the city in 2014. There were 107 firm sales in Saskatoon last week, which is actually the first time the Saskatoon market eclipsed the century mark in 2014. It’s logical to believe that the Saskatoon real estate market is now in full swing. Of those 107 sales the average price was $348,342, which is lower than usual because of a high number of sales (78% of total sales) under $400,000.

When comparing the month of March 2014 to 2013 in terms of sales volume and overall average prices, there are positive signs. In March 2014, there have been an average of 90 sales per week (4 more than 2013), with an average price of $353,695 ($17,627 higher than March 2013), 44 days on market and an average of $6284 selling price under asking.

Currently there are 1335 active listings in Saskatoon (803 single family, 428 condominiums), which is roughly 280 more listings during the same time period in 2013. Last week there were a very healthy 179 new listings (122 single family, 47 condominiums) posted to the Saskatoon MLS.

Currently interest rates are at 3.09% for a 5 year fixed, which is very attractive. These rates are luring first time home buyers into the market because the cost benefit of buying a property currently outweighs the freedom of renting.

If you have any questions about the current market or if you’re thinking about buying/selling, contact us here.

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The Matthew Olsgard Team

The Matthew Olsgard Team

CENTURY 21 Fusion
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