After enduring multiple weeks with less than impressive sales numbers, the Saskatoon real estate market posted a total of 57 (40 single family, 15 condominiums) sales last week. These numbers are far from impressive, however considering the time of year they’re roughly on par with recent years. The average sale price was $326,916 last week, which is nearly identical to the tally from two weeks ago. In 2012 there were 68 firm sales with an average price of $307,291. Ultimately average prices have gone up, year over year, while sales volume has been lagging. Last week it took an average of 37 days on market for a house to sell, and the average selling price under asking was $5912. Both of these figures are very average over the past few months.
Currently there are 1025 listings (601 single family, 335 condominiums) in Saskatoon, which is evidence that listing inventory is growing. Last week there were 128 new listings (59 single family, 66 condominiums) posted to the market , which is nearly the same total 2 weeks ago when 135 were posted. There have not been over 1000 listings in Saskatoon since prior to the winter settling in. This coupling with the fact that interest rates are so ridiculously low should be a great sign of things to come in the spring.
Have a great week and remember to check back next week to see what's happening in the Saskatoon real estate market.