A total of 74 sales took place in the Saskatoon real estate market, which are on the uptick of late and eclipses the total from the same time period in 2014 by 8 sales. Last week there were 55 single family homes that sold in Saskatoon for an average price of $351,755, while 19 condominiums sold at an average of $264,800
We have finally seen sales volume numbers improve in 2015, while prices have fallen in both the single family and condominium markets slightly. Sales volume figures in the condominium market improved over the past few weeks, while the prices have come down considerably when comparing to 2014 figures. Over the past month, the average price of a single family home in Saskatoon is $381,979, which is down from 2014 just $2,618. Condos are down just over $8,000 from 2014. It should also be noted that the average days on market for a condo have jumped from 49 days in 2014 to 65 in 2015.
A huge proponent of the falling prices and longer days on market is due to the increased amount of listings on the market. Listing activity doesn’t seem to be slowing down any time soon, to the detriment of prices overall. The Saskatoon MLS witnessed the greatest jump in a few months as the listing count is now over 1650 as of Monday afternoon. Inventory levels haven’t risen to these levels since 2008. There are currently 890 single family listings (156 more than 2014) and 570 condominiums (152 more than 2014).