Finally there is a light at the end of the dark cold tunnel! The real estate market in Saskatoon usually begins to prosper as the snow begins to melt, as sales volume and listing activity increase. At the moment the market is more active than it has ever been, however not by a large margin. Last week there were 73 firm sales in the Saskatoon real estate market at an average price of $358,546. Over the past 4 weeks in Saskatoon there have been an average of 77 sales per week with an average price of $356,432, the average house sold in 44 days on market and the average selling price was $7405 under asking price. The numbers over the past month have eclipsed the figures during the same period in 2013 in both sales volume (3 more per week) and average price ($22,939 higher). Most notably the average prices jumping up nearly $22,939 over the past year are quite impressive.
Currently there are 1249 active listings in Saskatoon which is much higher than the same period last year when there were roughly 200 less listings. After witnessing the total number of listings dwindle over the past couple of weeks due to stagnant listing activity, last week the figures turned for the better. Last week there were 187 new listings posted to the MLS which is 40 more than the previous week and 4 less than the same week period in 2013. Expect the number of listings to increase over the coming weeks as we should see roughly 200 per week over the short term.
For any questions regarding the current real estate market, or if you’re thinking about buying/selling, contact us here.