This past week produced the smallest number of new Saskatoon real estate listings for any week this year with just 46 houses and condos being listed for sale on our local MLS® system, down from 73 the week before. This decline in new listings is something which we expect to see in December and we can anticipate that the trend will continue through the next couple of weeks. Only the most serious sellers will list their properties between now and month end.
Home sales were fairly brisk given the time of year. 62 Saskatoon houses and condos were reported sold, compared to just 48 the week before. With a total of 110 sales completed, month to date, it seems fairly certain that we’ll see a higher volume this month, compared to December, 2006.
Total active residential listings closed the week at just 478 units, a big drop from 540 last week. 242 of those properties are single family homes (houses) and 187 of them are condominiums. The balance are semi-detached, duplexes, mobiles, etc. I took a little trip back to last December to compare inventory levels from late in the year. While the total number of active listings is higher this year, I noticed that we actually have fewer houses for sale, but substantially more condos on the market than we did then. On December 11, 2006 the Saskatoon MLS® was showing 265 single family homes and just 44 condos as active.
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Norm Fisher Royal LePage Vidorra