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In the Saskatoon real estate market this year sales volume has been on a slight decline, while prices are surprisingly increasing. February is rarely the most active month in real estate and with lenders competing for ultra-low rates, buyers should be enticed to purchase in the near future. It seems as though from talking to colleagues that buyers seem to be sitting on their hands waiting for the perfect deal.

 

Last week in the Saskatoon real estate market, there were 44 single family homes which sold at an average of $389,642 and 19 condominiums had an average price of $276,642. Single family home sales are up 4 from last week, while  condominiums are up 2.

 

When comparing the past month of sales in both the single family and condominium markets to the same month last year, it’s evident that sales volume slipped slightly. In the single family market sales are down 15% from last year, while in the condominium market is down 22%.Most importantly we’ve seen a surprising price increase in 2015, as prices in the single family market have increased nearly 6%! Meanwhile the condominium market is rather unchanged year to year.

 

Year       Type     Sales     Avg. Price        DOM     Selling Price Under Asking

2015       SF        160       $398,777            47       $9,586

2014       SF         188      $375,411            41       $9,776

2015       Con       69        $265,702            59       $4,363

2014       Con       87        $276,456            59       $6,435

Legend: SF = Single Family, Con = Condominium

 

Currently there are 827 single family homes (up 11 from last week) showing as active in Saskatoon, which is up 14% from the same period last year. There are currently 551 condominiums (up 36 from last week), which is up 29% from a year ago.

 

If you have any questions regarding the Saskatoon real estate market, or if you’re thinking about buying/selling contact us here.


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