Two weeks ago there were only 58 sales in the Saskatoon real estate market, which was the lowest weekly total in more than 6 months. Last week however, the Saskatoon real estate market came back with a vengeance as there were 91 sales (66 single family, 23 condominiums) posted to the local MLS, which is very similar to the 85 that sold during the same period in 2011. The market has been extremely unpredictable of late and as we normally expect a seasonal slow-down around this time of year, it’s apparent that things aren’t about to quiet off for the fall just yet! The average price last week was quite low as there was more activity in the lower end of the market and it finished off at $318,144. The average days on market was 33 last week, while the average selling price under asking was $7255 and both of these figures are status quo of late.
Currently there are 1212 (750 single family, 387 condominiums) listings on the Saskatoon MLS which is a healthy amount for this time of year. In 2011 listing inventory was a lot higher than the numbers in 2012. However after an impressive 155 new listings were posted to the MLS last week, we are currently sitting at roughly 55 less listings than the same week period in 2011.
As listing activity and sales numbers are both very healthy for this time of year, don’t expect a seasonal slow-down just yet! Interest rates remain favourable and there is plenty of activity in the market. For more information about the current market or if you’re thinking about buying or selling contact us at email@example.com