The Saskatoon real estate market continued with its recent high activity as there were 112 sales last week, which is 13 more than the previous week, and 9 less than the same week period in 2011. The average sale price in Saskatoon last week was $346,066 which was on average $7930 under asking price, with an average days on market of 25. Average sale prices are currently on the rise and are the highest they have been in the last year, while the average days on market continues to drop. This is due to the high number of buyers and lower amount of listings that we have seen for quite some time in recent months.
Currently there are 1247 active listings in Saskatoon (744 single family, 423 condominiums), which as stated above is less than 2011 when there were (797 single family, 496 condominiums) during the same week period. Last week there were 171 new listings (115 single family and 46 condominiums) posted to the MLS in Saskatoon last week, while there were 198 new listings posted during the same week in 2011.
Status quo remains in Saskatoon as sales continue to hover around the 100 mark which is very high and listing activity remains lower than last year. This is continuing to drive up the average price to a point that we haven’t seen in quite some time in Saskatoon. Until more listings are posted and the demand balances out between buyers and sellers, expect prices to rise in Saskatoon for the short term.
If your thinking about buying or selling or if you have questions about the Saskatoon real estate market, contact us at firstname.lastname@example.org