The spring upswing in the Saskatoon real estate market has fully arrived. Last week there were a healthy 95 sales (66 single family, 27 condominiums) recorded by on the local MLS. Two weeks ago there were 103 firm sales and we’ve seen the market produce right around 100 sales for consecutive weeks, suggesting a hot market. Last year during the same week period there were 101 sales, and we’ve been witnessing very similar numbers from this year to last in terms of sales volume. Where this year differs from last year are the average sale prices and days on market. Last week the average sale price was $347,626, whereas two weeks ago the average was $369,111 with an average days on market less than 30 over the two week span. During the same week period in 2012, the average price was $333,277. It should be noted that weekly average prices in 2013 are consistently eclipsing the totals for the same week periods in 2012.
Currently in Saskatoon the total listing inventory sits at 1207 (733 single family, 387 condominiums), which is barely ahead of last year’s total when there were 1190 listings on the Saskatoon MLS. Last week there were 199 new listings (136 single family, 56 condominiums) posted to the MLS, while two weeks ago there were 178 (116 single family, 54 condominiums). Expect inventory levels to grow over the short term.
If you have any questions regarding the market or if you’re thinking about buying or selling, contact us at email@example.com