Saskatoon home buyers found little relief from pressured prices this past week. While the percentage of homes sold at or above their list price declined from 70% to 61%, the average overbid in instances where homes sold over list price increased to $14,155 from $12,144 the week before.
Area 4 had the lowest percentage of over list sellers with 60% of homes selling at a bit of a discount. The average overbid dropped from $9,100 to just $5,917.
Area 5, where housing inventories remain tightest, showed an average overbid of $18,767, a big increase from $13,975 the week before. Here are the numbers.
One doesn’t have to look far to see frustrated home buyers and exhausted agents.I can’t help but think this market is taking its toll. A number of buyers wondered out loud if they should just give up as their continued efforts to get into the Saskatoon housing market continued to deliver no results.
I am also ready for a little relief but there seems to be no end in sight. There are 236 active MLS® listings of condos and houses on the market today, which I believe is a record low.
Anyone who is actively looking right now knows that the majority of those have conditional offers on them.
I’m always happy to answer your Saskatoon real estate questions.
Royal LePage Vidorra