The Saskatoon Home Team

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Sales have started to incrementally cool over the past few weeks in the Saskatoon real estate market as last week 88 firm deals were reported to the local MLS. Due to high listing inventory of late, properties are beginning to linger on the market longer than usual as the average days on market last week closed at 55, while the average price remained stable at $362,700.

 

Over the past month in Saskatoon we have seen an average of 96 sales per week, so last week was considerably off pace (8 less than the 4 week average). The average price in Saskatoon over the past month is $364,406 which is really close to the weekly average, while the average listing has sold in 41 days on market (14 less than last week’s average). The average selling price under asking in Saskatoon at the moment is $7,064. In 2013 during the same month period there were a total of 92 sales per week (4 less than 2014), at an average price of $337,721 ($26,685 lower than 2014), while the average listing sold much quicker (8 days quicker than 2014) at 33 days on market.

Here is a breakdown of sales volume in different price categories in Saskatoon. Currently the $200,000 to $400,000 range is the most active in Saskatoon. It should be noted that new home sales remain quite cool as they comprise of only 13% of the current market.

 

Price                                      # Of Sales

$0 - $200,000                      39

$200,000 - $300,000         102

$300,000 - $400,000         121

$400,000 - $500,000         78

$500,000 - $600,000         32

$600,000+                            22

 

There are currently 1566 active listings (988 single family, 447 condominiums) in Saskatoon at the moment. In 2013 during the same time period there were 1393 active listings (851 single family, 445 condominiums). The total number of listings fell considerably since last week as inventory was over 1600 in Saskatoon at that time. During the past week there were 174 new listings posted to the Saskatoon MLS.

 

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

Sales have started to incrementally cool over the past few weeks in the Saskatoon real estate market as last week 88 firm deals were reported to the local MLS. Due to high listing inventory of late, properties are beginning to linger on the market longer than usual as the average days on market last week closed at 55, while the average price remained stable at $362,700.

Over the past month in Saskatoon we have seen an average of 96 sales per week, so last week was considerably off pace (8 less than the 4 week average). The average price in Saskatoon over the past month is $364,406 which is really close to the weekly average, while the average listing has sold in 41 days on market (14 less than last week’s average). The average selling price under asking in Saskatoon at the moment is $7,064. In 2013 during the same month period there were a total of 92 sales per week (4 less than 2014), at an average price of $337,721 ($26,685 lower than 2014), while the average listing sold much quicker (8 days quicker than 2014) at 33 days on market.

Here is a breakdown of sales volume in different price categories in Saskatoon. Currently the $200,000 to $400,000 range is the most active in Saskatoon. It should be noted that new home sales remain quite cool as they comprise of only 13% of the current market.

Price                                      # Of Sales

$0 - $200,000                      39

$200,000 - $300,000         102

$300,000 - $400,000         121

$400,000 - $500,000         78

$500,000 - $600,000         32

$600,000+                            22

There are currently 1566 active listings (988 single family, 447 condominiums) in Saskatoon at the moment. In 2013 during the same time period there were 1393 active listings (851 single family, 445 condominiums). The total number of listings fell considerably since last week as inventory was over 1600 in Saskatoon at that time. During the past week there were 174 new listings posted to the Saskatoon MLS.

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

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Sales volume in the Saskatoon real estate market continued on a respectable pace last week as there were a total of 91 firm sales reported to the Saskatoon MLS. The average price of a home last week was $355,851, while the average house sold in 35 days on market.

 

Over the past month the Saskatoon real estate market recorded an average of 98 sales per week at an average price of $357,391, while the average listing days on market is 37. In 2013 there were a total of 94 sales per week at an average price of $342,622, while the average home sold in 33 days on market. In 2014 we have seen sales volume and average prices up, however we’ve seen the average listing period (days on market) increase by 4 days. Increased competition with the high number of listings has created more of a gap between list price and selling price in 2014. The average selling price under asking is $7,573 in 2014, while last year it was just $6,705.

 

Over the past month the following neighbourhoods have been most active in terms of sales volume:

 

Willowgrove (24 sales), Wildwood (22 sales), Hampton Village (19 sales), Evergreen (17 sales), Stonebridge (15 sales).

 

Warman (35 sales), Martensville (22 sales)

 

There are currently 1603 active listings (1000 single family homes, 472 condominiums) on the Saskatoon MLS. There are currently 197 more single family and 26 more condominium listings on the market in 2014 as compared to the previous year. Last week there were 168 new listings posted to the Saskatoon MLS.

 

For more information on current Saskatoon real estate trends or if you’re buying or selling, contact us here.

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Sales in the Saskatoon real estate market had slowed slightly in July after witnessing the strongest spring in recent memory. After the lull in the July market, sales bounced back recently as 120 firm sales were reported in the Saskatoon real estate market last week. Competition and inventory levels remains quite high on the selling end as listing numbers are also higher than usual. However homes are starting to sell quickly as the average days on market last week was only 31, while the average price was $368,847. In 2013 during the same week period, there were 94 firm sales at an average price of $331,822, while the average house sold in 39 days on market.

 

During the month of July there were 422 firm sales (105 sales per week), while the average price of a home was $364,033 and the average home sold in 37 days on market. In 2013 there were 462 firm sales in the Saskatoon real estate market (116 per week), the average price of a home was $342,543 (nearly 6% lower than the average price in 2014 for the same month), while the average home sold in just 35 days on market. Ultimately the numbers are telling of a July in 2014 that fell off its record breaking production pace set in the spring. However after looking at the last few weeks figures, it seems as though things are ramping up again prior to the fall. Over the past month, only 12% of all sales were new homes while new homes currently comprise of over 28% of the current inventory. We are starting to see the average prices going up as move up families are buying larger houses during the summer prior to the school year.

 

Currently there are 1549 listings in Saskatoon (954 single family homes, 467 condominiums) which is roughly 240 more listings than were on the market during the same period in 2013. Last year there were 765 single family homes and 440 condominiums on the Saskatoon MLS. Listing inventory continues to climb as there were 207 new listings posted to the Saskatoon MLS last week. Look for inventory numbers to decrease over the coming weeks.

 

If you have any questions regarding market trends, or if you're buying/selling contact us here.

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