As of January 1st, 2015 to March 22nd 2015 there have been 193 total sales in the Saskatoon condo market.
- The average price of a condo is $265,520
- The average selling price under asking price is $4,662
- The average condo sells in approximately 66 days on the market
During the same time period in the record breaking 2014 market (January 1st 2014 to March 22nd 2014, there were - 229 sales (36 more sales than 2015) in the Saskatoon condo market.
- The average price of a condo was $273,230 ($4,710 higher)
- The average selling price under asking price was $5,043
- The average condo sold in approximately 53 days on the market.
Overall this year we’re seeing condos listed a little closer to the final selling price because of increased competition. Agents are encouraging their clients to list places more competitively to entice an offer in a more competitive market. Prices have ultimately come down, $4,710 year over year and it’s taking nearly 2 weeks longer to sell a place this year.
Townhouse Market Year over Year
This year there have been 61 townhouses sold during the same time period, while the average townhouse is currently selling for $291,997 in 55 days on market. The average size is 1213 square feet.
Last year there were 83 townhouses sold between Jan 1st – March 22nd the average townhouse sold for $289,926 in 45 days on market. The average size was 1220 square feet. So the prices for townhouses have come up roughly $2,000 this year in the townhouse market.
Apartment Market Year over Year
This year there have been 114 apartment condos sold so far, while the average price is $243,968 while the average days on market is 76. The average size is 926 square feet. The average selling price under asking is $5,018.
Last year there were 123 apartment condos that sold, at an average price of $246,899 while the average days on market was just 55. The average size of a condo that sold last year was 958 square feet. The average selling price under asking was $5,993.
This year in the apartment condo market we’ve seen prices fall nearly $3,000, while it’s taking 21 days longer to sell. However we’re seeing the price drops reflected in the asking prices as all condos including apartments are selling closer to asking to asking price than last year.