New listings of Saskatoon houses and condos remained stable with those reported the previous week while total unit sales took a small step forward to 76 properties, from 71 the week before. While sale numbers are definitely weaker in recent weeks, the ratio of sales to new listings is strengthening and total active listings are once again on the decline. At the close of the week, the Saskatoon Multiple Listing Service®was showing just 652 active real estate listings, down from close to 690 just a couple of weeks ago. Still, active listings are approximately 50% higher than they were at this time last year.
The percentage of Saskatoon real estate listings selling above the asking price was up again but the average overbid fell to its lowest level since early March. Buyers managed to negotiate a downward deal on 71% of all reported homes sales, and on average, to the tune of more than $10,000. This is surely an indication that sellers are much more inclined to over price their homes, but they seem to understand that some negotiation may be required to close the deal.
The average selling price took a fairly big hit this week, primarily a result of more condo sales, and a pretty good handful of area 4 properties which sold below the $80,000 mark.
I’m always happy to answer your Saskatoon real estate questions.
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Norm Fisher Royal LePage Vidorra