The numbers of home sales in the Saskatoon real estate market have been very stagnant of late. Last week there were only 38 firm sales reported to the local MLS, which is 6 less than the total from two weeks ago and 17 less than the totals from 2012 for the same week period. Of those 38 sales last week, the average price was $330,436 which was roughly $9000 less than the average from 2 weeks ago. The average sale price was $6917 under asking, which is also status quo of late. Due to the small sample size of sales I wouldn’t read too much into the stats.
The numbers of active listings are climbing and are almost at the 1000 mark (599 single family, 284 condominiums). Ultimately inventory levels are at a very healthy level. Last week 147 new listings (100 single family, 41 condominiums) were posted to the local MLS. Inventory levels will continue to climb if sales continue to lag.
I would expect sales numbers to climb to near the 60 mark in the next week and inventory levels to taper off slightly. At the moment interest rates are available at 3.09% and the market remains attractive. For more information about the current market or if you’re thinking about buying/selling contact us at firstname.lastname@example.org