Sales have been very brisk in the Saskatoon real estate market of late as figures are well ahead of the record breaking pace of the 2013 market. Last week there were 70 firm sales (11 less than the previous week) recorded by the Saskatoon MLS with an average price of $364,927, which is higher than usual due to higher amount of activity at the top end of the market. Over the past month we’ve seen an average of 74 sales per week at an average price of $348,068, 45 days on market and a selling price of $7862 under asking. In 2013 during the same month period there were an average of 7 less home sales per week and the average price was $14,414 lower (4% increase in average price). As has been the same story for consecutive weeks in 2014, sales volume and average prices have incrementally shot up. At the moment consumer confidence seems to be very high as interest rates remain extremely attractive for individuals looking upgrade or enter the home owners market for the first time.
Currently there are 1222 active listings (705 single family, 400 condominiums) in Saskatoon, which is roughly the same figure as the same time period in 2013. Last week there were only 111 new listings (72 single family, 37 condominiums) posted to the market. This is a lower total than we usually witness at this time of year, however you can expect this total to rise as buying and selling conditions are optimal at this time.
If you require and further information on the current market or if you’re thinking about buying/selling, please contact us here.