Active Saskatoon real estate listings held steady this week showing a total of 393 units including 169 single family homes and 178 condominiums across all Saskatoon neighbourhoods and all price ranges. New listings dropped to 73 homes, from 85 last week.
Residential unit sales of both houses and condos inched back up over the 50 mark for the first time since mid-December. Area 1 was most active producing 22 of those sales.
This January has a similar feel when compared to the same month last year, at least when it comes to inquiries. The phone is ringing a lot and a steady stream of email inquiries continue to find their way to our inbox daily. It’s amazing though how much of an impact the additional listing we have this year makes. While it looks like we will probably exceed last January’s sale numbers, buyers are generally tougher and they don’t feel near the pressure that they were feeling at this time last year. That’s a good thing for everyone.
Just the same, there are some signs that the spring market is just around the corner. I note that this week produced the highest percentage of “at list” or “above list price” sales since the week of October 1-5. Additionally, the average underbid declined again for the fourth week in a row. The difference between the average list price and the average sale price has been gradually, but consistently declining for several weeks now. The bottom line is that the inventory of Saskatoon houses is still very low, in spite of the increased level we have this year. Buyers just don’t have very many options and the market will likely continue to favour sellers through the spring months.
I’m always happy to answer your Saskatoon real estate questions.
All of my contact info is here. Please feel free to call or email.
Norm Fisher Royal LePage Vidorra