Last week sales activity was rampant with 110 (75 single family, 32 condominiums) firm sales reported to the Saskatoon MLS, with an average price of $328,383. Two weeks ago there were 96 sales in Saskatoon (73 single family, 22 condominiums) with a skewed weekly average price of $377,473 because of high end market activity. Weekly sales activity of late have been all hovering around the century which ultimately is a good sign, while the average days on market is right around 30.
In the month of May 2013 there were 429 total sales in Saskatoon, averaging just over 107 sales/week, with an average price of $355,473. In May 2012 there were 459 total sales, with an average price of $335,774. Monthly comparisons year to year for the month of May suggest that sales prices went up 5.5% from 2012 to 2013 and average days on market are very similar at roughly 30 days. The average sales price under asking has shrunk this year almost 9% from $6623 in 2012 to $6037 in 2013.
Currently there are 1358 (805 single family, 466 condominiums) active listings in Saskatoon which is a very healthy amount of inventory. Last week there was a very impressive 206 listings posted to the Saskatoon MLS. We are starting to see the listing inventory climb incrementally each week, and it should continue over the short term.
For any questions regarding the Saskatoon real estate market, or if you’re buying or selling contact us firstname.lastname@example.org