The active stock of Saskatoon real estate listings took a significant hit this week, falling to just 543 properties, a decrease of 70 units from last week. Only 487 of those properties are single-family homes (304) and condos (183). A meager total of just 64 new residential listings were offered up for sale, while 78 Saskatoon homes traded hands.
Still, buyers managed to negotiate with sellers and a full 83% of the homes which sold brought prices which were below the asking price by an average of $7,782.
Overbidding was non-existent on Saskatoon’s west end, and not much of a factor in the north and east where only 8 properties fetched prices above list price. I should mention that I did massage these figures slightly this week. One condo, in the Rumley project, was reported as selling approximately $90,000 above the list price. This tweaked my interest and prompted a call to the listing agent. She tells me that the additional dollars reflect upgrades that the buyer chose to have added and that the selling price matches what would have been the asking price had these upgrades been included with the original listing. I was amazed to learn that 9 condos have already been sold in this project fetching prices from around $550K to almost one million dollars.
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