Premium Saskatoon houses sell while market is still at work

I did a routine search of today’s MLS® listings at about 4:00 pm. There are two new listings showing up in all of Area 1, which for Saskatoon real estate agents includes all neighbourhoods which are East of Circle Drive East. Both of these new listings are in Briarwood. One is priced at only $248,000; the other at $419,900. This small number of listings comes as no surprise. It seems to be the way it has been lately.

Meantime, the number of potential buyers continues to mount. There are plenty of motivated buyers waiting in the wings for these types of premium homes. One of those buyers is certainly prepared to pay more than anyone else for one of these two homes. At least, that’s pretty much how it works in most cases. The only problem is, both homes are currently sold, pending unknown conditions. At the time I write this blog, neither listing has yet found its way to MLS® Online. The listings will appear there tomorrow, a day late and a dollar short.

Of course, the question running through my mind is, how much money did these sellers miss out on by accepting an offer before most of the market could even get away from work? This, we’ll never know. Perhaps they somehow managed to connect with that buyer who was willing to pay the most, but I doubt it. Why would anyone accept an offer before the market knows their house is for sale? To me, it’s simply mind-boggling. Any thoughts?

Norm Fisher

Royal LePage Vidorra

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