Sales volume is most definitely on the upswing in the Saskatoon real estate market as last week there was a very impressive 74 firm sales reported to the local MLS (highest weekly total since October 2013). The average price last week closed out at $347,225, while the average home sold on an average of 54 days on market and $7351 under asking price. To put these impressive figures from last week into perspective, we can look at the 4 week average.
Year Sales/Week Avg. Price Days on Market
2014 60 $351,140 51
2013 53 $339,509 45
It’s evident that last week’s numbers have eclipsed the average over the past month in sales volume by 14. The Saskatoon real estate market is also averaging 7 more sales per week more than the same month period from last year, which is also a promising figure. Overall average prices have come up 3.4% from last year.
Currently there are 1174 active listings (697 single family, 359 condominiums) in Saskatoon. The overall listing count was affected by the 142 new listings that were posted to the market last week. In 2013 during the same week period there were 140 new listings posted.
Overall these numbers are very promising. The market tends to heat up in February as most buyers start to look more seriously this time of year. Activity may fluctuate slightly in terms of sales volume and listing inventory. However, this was the week that the Saskatoon real estate market shook the winter blues.
If you have any questions about buying or selling, or if you have any questions about the current market, you can contact us here.