The Saskatoon real estate market remains very active in terms of sales volume as 102 firm sales were recorded by the local MLS last week. Of those sales, the average price was $355,369 while the average days on market was 42. The total from last week eclipses last year’s weekly total for the same week period by 13.
During the month of August 2014, there were 400 total sales (100/week), while the average days on market was 44, and the average selling price under asking was $8,128. Only 12% of total sales comprised of new homes. Average prices increased just over 1% since 2013, which is a modest uptick when comparing over the past few years.
In August 2013, 377 sales (94/week) occurred during the month period. The average price last year was $343,189, the average days on market was 39 and the average selling price under asking was just $6,288. In August of 2013 the number of listings/competition was much lower which reflects in a lower days on market and also a closing price a lot closer to list price.
There are currently 1528 active listings in Saskatoon (964 single family, 433 condominiums). This number has dipped over the past few weeks as we’ve seen inventory come down from over 1600 a few weeks ago. Last year there were 835 single family homes and 415 condominiums on the market. Expect listing numbers to fall over the coming weeks.
If you would like more information on Saskatoon real estate trends or if you have questions about buying/selling a home, contact us here.