Momentum continues to roll in the Saskatoon real estate market as the local MLS recorded 124 sales, which is a 2014 record. Sales haven’t been this brisk in Saskatoon for 7 years since the one-off real estate boom, The current market has been bolstered by the city’s continuous growth and ability to retain its young people. Last week the average price was $358,209 and the average home sold in 35 days on market. In 2013 there were 108 sales at an average price of $329,789 while the average home sold in 33 days on market.
Over the past month in Saskatoon there has been an average of 117 sales per week at an average price of $358,569. The average house sold in 34 days and the average selling price was $8,679 under asking price. These numbers look excellent when comparing sales data from a very productive 2013. Last year in Saskatoon there were 18 less sales per week at an average price of $352,028 while homes sold in 31 days on market. There are slight differences in average selling price and days on market from year to year, however numbers are trending in the right direction.
Last week there were 240 new listings (165 single family, 59 condominiums) posted to the local MLS. The impressive listing numbers from last week increased the total active listings in Saskatoon to 1598 (973 single family, 474 condominums).
It should be noted that 28% of all listings in Saskatoon are new homes, while only 14% of all sales are new homes. The resale market comprises 72% of all listings and 86% of all sales. Now is a perfect time for move up buyers looking to get into a new home!
For more information on the Saskatoon real estate market, market trends, or if you’re buying or selling contact us here.