The Saskatoon Home Team

Where Integrity Meets Hard Work

The weather has been amazing lately and has motivated buyers to buy homes. Sales volume in the Saskatoon real estate market is up quite remarkably year over year, which is promising. Last week there were 105 firm sales in Saskatoon with an average price of $352,047 and 33 days on market.

 

Over the past month, the market has been extremely active as we have averaged 112 sales per week, which are 15 more than the same month period in 2013. The average price over the past month has been $358,794 and this total is $3,429 higher than the average price during the same month in 2013. This number is skewed because of a high amount of activity in the entry level market. Due to a high amount of inventory currently houses are selling in 36 days on market, which is 6 days longer than the average in 2013. The average price under asking over the past month is $7,405.

 

In 2014 we’ve seen more activity in terms of sales volume than we have in the past 5 years as the average price has gradually increased every year.  Average prices are going up especially in the resale market as it’s been extremely hot of late (81% of total sales are resales), the same cannot be said in the resale market. Homes are still moving very well under the $400,000 mark as 73% of total sales occurred in this range.

 

There are currently 1578 listings (964 single family homes & 500 condominiums) in Saskatoon which continues to grow every week as we are in the midst of the most active listing period of the year. In 2013 there were only 1219 active listings on the market. Last week there were 193 new listings posted to the market. Last year during the same week period there were only 167 new listings posted and inventory was much lower.

 

If you have any questions about the current market or if you’re thinking about buying or selling, contact us here.

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Last week in the Saskatoon real estate market there were more sales than any other week in 2014 so far! There were 119 firm sales at an average price of $355,321, 30 days on market and $7286 average sale price under asking. You could say that we’re in full swing in the Saskatoon real estate market.

 

Last week there were a few trends that were evident when looking at the statistics. Of all the sales last week, a staggering 93% of all sales occurred in the resale market, driving down the average days on market to 30. It’s very rare to see homes sell this fast while there are over 1500 listings on the market. Entry level homes under $400,000 consisted of 70% of total sales last week, which has skewed the average price in Saskatoon much lower than where it normally is.

 

Over the past month there have been 457 sales (114 per week) with an average price of $351,718, 36 days on market and an average of $7554 sale price under asking. Last year during the same month period, the Saskatoon real estate market averaged 14 less sales per week, while the average price was only $2,117 lower and the average home sold in just 30 days on market. In 2013 there were far less listings on the market, therefore it’s reasonable to assume it would affect the average days on market with less competition.

 

There are currently 1549 listings in Saskatoon (925 single family, 499 condominiums) as listing inventory in Saskatoon is skyrocketing. Last week there were 251 new listings (161 single family, 73 condominiums) posted on the market, which is the highest amount of listings in a single week in over 6 years. There were 196 less single family homes and 122 less condominiums on the market during the same week period last year. Expect the overall listing numbers to increase to nearly 2000 in the coming months.

 

If you require any further information on current trends in the Saskatoon real estate market or if you’re buying/selling, contact us here!

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Last week in the Saskatoon real estate market sales continued at an extremely high pace as there were 105 firm deals reported to the local MLS. Of those 105 sales, the average price bumped up from previous weeks to $359,503 as 29% of all sales occurred $400k or higher. The resale market remains to be the most dominant market in Saskatoon as only 19% of all sales last week were new homes.

 

Over the past 4 weeks, there have been a very impressive 108 sales per week average with an average price of $350,284, 37 days on market and an average of $7,410 selling price under asking. In 2013 during the same 4 week period there were 7 less sales per week with an average price $5,593 lower. However last year due to lower inventory and less competition, the average home sold 6 days faster.

 

Currently there are 1478 total listings in Saskatoon (899 single family, 467 condominiums) and these figures are expected to climb as this is the most active listing time of year. In 2013 there were 185 less single family homes and 86 less condominiums on the market during this same week period. Last week there were 222 new listings posted to the Saskatoon MLS (141 single family, 61 condominiums).  

 

Sales volume, prices and listing inventory are all higher than they were in 2013. For a free home appraisal, or if you’re buying/selling contact us here!

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Over the past few months in the Saskatoon real estate market sales volume has been far ahead of expectations. As the city continues to grow and retain its young people better than ever (story here), real estate demands in the entry level market have never been hotter. Last week sales kept humming at a torrid pace as the market is now in full throttle as 118 firm sales were reported to the Saskatoon MLS with an average price of $367,669.

 

During the month of April in Saskatoon there were 433 firm sales reported at an average of 108/week and average price of $345,394 and 38 days on market. The average price is quite low due to 74% of sales occurring under the $400,000 mark. This was the second most active April all time in Saskatoon, the first being the boom in 2007 when 475 sales took place. However this time around, sales are increasing because of steady population growth, meaning these figures should be sustainable as long as interest rates remain attractive. It should be noted that new homes sell in about 53 days on market, while a resale home will sell in about 35 days.

 

In 2013 during the month of April there were 395 total sales or 100 per week (8 less than 2014). The average price was $350,203 ($4809 more than 2014 April average price) and the average house sold a little faster at  only 33 days on market. The amount of sales under $400,000 was only 70%.

 

Average prices have increased year over year from 2013 to 2014. As mentioned in previous blogs, due to an increase in entry level buyers the average price numbers in Saskatoon have been skewed due to a high number of sales in the entry level market.

 

There are currently 1448 listings in Saskatoon (886 single family homes, 463 condominiums) which is a high amount of inventory in the market. Last year there were only 184 less homes on the market and 103 less condos during the same week period.  Last week there were a very impressive 233 new listings in Saskatoon posted to the local market.

 

If you have any questions about the current market or if you’re thinking about buying/selling, contact us here!

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