As of late in the Saskatoon real estate market has fluctuated in the number of sales. Last week might be somewhat of an anomaly due to the Easter holidays, as there were only 64 sales (48 single family, 14 condominiums) for the period which is on par with last year’s numbers. However, when comparing to two weeks ago when 124 sales occurred in Saskatoon, there was a significant drop off. Looking back on 2011 the numbers seemed to be very consistent week to week; nevertheless in 2012 we have witnessed sales numbers all over the board. Last week the average sales price was $330,127 with an average days on market of 20. The average gap between list price and selling price decreased to only $3636 which is much lower than usual. We have pointed out in our sales review blog that Saskatoon is currently a seller’s market and the $3636 gap between list and a selling price substantiates this as two weeks ago this number was just over $6000.
While sales numbers slipped, the number of listings actually increased as there were 202 listed last week compared to 177 two weeks ago. As of Tuesday afternoon there are 1114 listings (654 single family, 370 condominiums) currently on the market. These numbers are far off of the inventory count from 2011 when there were roughly 1260 listings during the same period. Predictably the listing count is growing as the busy real estate season ramps up, however only time will tell whether we will see the numbers reach as high as 2011.
For more information on the Saskatoon real estate market or if you are thinking about buying or selling contact us at email@example.com.