Spring is in the air, and Saskatoon home buyers are definitely taking their real estate seriously this year. The average days on the market fell sharply from 26 days in January to just 20 days in February. Many of the better homes and condos were sold in bidding wars and by month-end, over 50% of the new residential listing inventory was selling at, or above the asking price. Prices were somewhat slow in reacting given the “heat” on the street. The average price of a Saskatoon home increased to $188,028 from $183,971 in January (condos and single-family detached homes).
The price of a house or single-family detached home inched up to $194,360 from $190,652 in January.
The condo market continued at a crazy pace. The average selling price of a Saskatoon condominium lost a smidge to $158,924 from $161,279 the month before. The average in December was just $144,363 so they remain up fairly substantially year to date. The average selling time in the condominium category plummeted to just 11 days and the average selling price actually came in higher than the average list price.
I’m always happy to answer your Saskatoon real estate questions.
Royal LePage Vidorra