The Saskatoon real estate market is currently in a seasonal slowdown as there were only 68 sales reported to the local MLS last week. Two weeks ago there were just 4 more sales during the period, while there were just 58 in 2011 during the same week period. It seems over the short term, the number of sales should hover around the 70 mark. To put this into perspective, during the summer we saw weekly sale totals eclipse the century mark nearly every single week. With the seasonal drop in sales, prices remain very stable as the average price last week was higher than the norm and closed out at $352,306. Two weeks ago the average price was $322,312 and during the same week period in 2011 the average price closed out at $296,893. Last week the average days on market was 40, the average selling price under asking was $8356, both figures are normal for this time of year.
Currently in Saskatoon there are 1077 active listings (637 single family, 340 condominiums), these numbers are pale in comparison to the same week period in 2011 when 1149 listings were active. Last week there were only 86 new listings (58 single family, 21 condominiums). In actuality these numbers are healthy in the sense that the market should balance out.
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