Last week Saskatoon hosted arguably the most successful Brier ever and seemed to slow down the real estate market. There were only 67 firm Sales in the Saskatoon real estate market last week which is a far cry from the previous week when there were 97 sales. However when comparing year to year, the declining sales numbers are identical to 2011. The average list price in Saskatoon was $307,719 and the average sale price was $303,190, while the average number of days on the market was 33.
With the amount of sales decreasing last week, new listings also took somewhat of a plummet as there were only 131 (102 single family, 25 condominiums) listed last week. During the previous week 164 new listings were posted on the local MLS. Currently there are 1080 active listings in Saskatoon (620 single family and 364 condominiums) which is significantly lower than the same period in 2011 when 1139 listings (599 single family and 431 condominiums) were on the market.
Ultimately it’s only a matter of time before the market balances itself out as there is still a favourable real estate market in Saskatoon. Soon enough we should see the spring push around the corner! But it hasn’t happened just yet. Have a great week and if you have any questions about the Saskatoon real estate market feel free to email us at email@example.com.