As compared to recent weeks, the Saskatoon real estate market is hot as 101 sales (66 single family, 30 condominiums) occurred this past week. These numbers are slightly higher than the previous week and 17 more than the same period last year. Last week the average sales price was $333,277, while the average house spent 30 days on the market. A remarkable 7 sellers were able to achieve better than asking price, 18 sellers got their full asking price and all together the average selling price was $5590 under asking price. The aver selling price under asking last week was $6430, so we are seeing the gap close as buyers seem to be competing for properties at present.
Currently there are 1227 active listings in Saskatoon (732 single family, 410 condominiums). To put these numbers into perspective, in 2011 there were roughly 1300 (786 single family, 486 condominiums) on the market during the same week period. If you have followed the blog recently you will be privy to the notion that listing activity has been reasonably soft in 2012. However last week things seem to have turned around for the short term as 197 properties (127 single family, 53 condominiums) were listed in Saskatoon. Two weeks ago there were 189 properties listed and a total of 1176 active listings. If this activity continues, the amount of listings will increase in an attempt to balance the market out as sellers have a slight advantage at the moment.
If you have any questions about the market or if you’re thinking about buying or selling, please contact firstname.lastname@example.org.