A total of 136 new residential listing came on the market last week outpacing unit sales by about 10%. Saskatoon real estate agents reported a total of 123 sales of single-family homes and condominiums over the same period.
The average selling price of a Saskatoon home was $13,000 lower this past week at $222,150 compared to $235,345 the week before.The majority of listings continued to attract multiple offers and over bids to the tune of $25,688 on average.
Buyers might take some comfort in the fact that this weeks sales sheet looks a lot like the one from the week before.I see fewer numbers of sales which are really “remarkable.” Most weeks there have been a quite a number of sales which appear to have broken new ground but this past week it seems that prices may have been fairly level.
It’s also interesting to note that in Area 4, only 50% of sales reported where over list price. That’s the first time we’ve seen that in quite a while. Often times a softening in the core areas is a first indication that the market may level out some.Could it be a sign of things to come?
Here’s a quick look at the numbers from last week.
I’m always happy to answer your Saskatoon real estate questions.
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Norm Fisher Royal LePage Vidorra