Saskatoon real estate trends & review: June 16 to 22

The gloomy weather in the Saskatoon area hasn’t slowed down the sales numbers in the local real estate market. Last week there were an impressive 126 sales recorded to the Saskatoon MLS with an average price of $381,488, while the average home sold in only 31 days. We’re starting to see the luxury market (over $400,000) finally increase in sales volume and homes are selling much quicker than they have been in months. In 2013 during the same week period there were 125 sales with an average price $360,928 ($20,560 lower than last week), while the average home sold in 37 days.

We have seen the largest difference in sales volume when comparing the past month to the same month period in 2013.

Year                 Sales/Week           Average Price             DOM               Avg Selling $ Under Asking

2014                      120                     $367,180                   34                             $8,963

2013                       89                      $349,662                   35                             $6,646

Year over year we’ve seen sales volume up over 30 sales per week while the average price of a home has gone up $17,518. Homes are starting to sell considerably lower under their asking price, however they are starting to sell slightly faster in 1 less day on market.

There are currently 1591 active listings in Saskatoon (953 single family, 513 condominiums), which is up from just 1305 last year during the same week period. There is much more competition on the market in 2013 especially in the new home market. Last week there were 188 listings posted to the market which is a considerable drop off from what we’ve seen of late.

For more information on the market, or if you’re thinking about buying/selling, contact us here!

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The Matthew Olsgard Team

The Matthew Olsgard Team

CENTURY 21 Fusion
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