Since a few weeks prior to the holiday season and after the New Year, sales in Saskatoon have been relatively slow. However this is to be expected during this time of year, which is typically the slowest time of year for real estate sales and the numbers tell the story. Last week there were 48 firm sales in Saskatoon with an average price of $347,052. Over the past 4 weeks there was an average of 40 sales per week with an average price of$341,116, 48 days on market and the average house sold for $8,737 under asking price. Comparing these figures to 2013 during the identical month period, where there were an average of only 36 sales per week, the average price was $337,459 and the average house sold in 46 days. In 2014 we have seen a slight bump up in the average price and a minor bump up in sales volume (4 more per week). This isn’t anything significant, however one can assume sales to pick up significantly over the short term as we expect history to repeat itself (roughly 60 sales per week until mid February).
Last week in Saskatoon there were 182 new listings (110 single family, 56 condominiums) posted to the Saskatoon real estate market. These figures are skewed because of many properties that were re-listed after the new year. The most active neighbourhoods were Evergreen - 16, Rosewood - 14, Willowgrove - 22, Stonebridge - 23 and Hampton Village - 14. Currently there are 1114 active listings in Saskatoon (672 single family, 344 condominiums), which is a slight bump up in inventory from last year when there were 599 single family homes and 337 condominiums on the market during the same week period.
If you have any questions about the current market or if you’re thinking about buying or selling, contact us here.