Congratulations Ridernation, I hope you all celebrated responsibly and had the time of your lives this weekend. What a great event to be a part of! It couldn’t have went better, so thanks to all the volunteers, the Riders and anyone/everyone who made this experience a positive one for all Rider fans! A true dream come true.
Sales in the Saskaton real estate market rebounded in a big way last week as 85 firm sales (41 single family, 41 condominiums) were reported to the local MLS. The average price was $330,050 which is lower than usual due to a high amount of activity in the condominium market (50% of the weekly total sales). Over the past 4 weeks, there has been an average of 78 home sales per week with an overall average price of $348,839. Also over the past month the average listing sells in roughly 47 days while the average price under asking is $8779. In 2012 during the same month period, the Saskatoon MLS witnessed 68 sales per week with an average price 2.7% lower than this year, while the average listing sold in 5 less days on market. The average selling price under asking was quite a bit tighter in 2012 as it closed out at $6037 for the same month period. Ultimately prices and sales volume is higher than a year ago and the market continues to look very promising.
Listing inventory continues to remain high for this time of year as there are currently 1282 active listings (796 single family, 383 condominiums) in Saskatoon. While last week there were 114 new listings (74 single family, 26 condominiums) posted to the MLS. Listing inventory as begun to cool off the past few weeks and we are starting to see inventory finally slip below the 1300 mark. Expect the overall inventory numbers to continue to fall over the coming weeks.
If you have any questions about the current market or are thinking about buying/selling, contact us here.