If there was any positive news for Saskatoon real estate buyers this past week, it was a significant increase in the total number of new residential listings that came on the market. Approximately 133 single-family homes and condominiums were listed for sale last week, compared to just 60 the week before, and 22 the week before that. With a total of 109 sales reported the total number of active listings remained extremely low at 254, many of which have conditional offers.
In spite of some relief with new listings, the percentage of homes which attracted offers at or above the asking price reached its highest level in recent weeks at 78%.
Here’s a quick look at the numbers.
- Eastview bungalow, 1143 square feet with no garage at $280,000
- Downtown condo, 680 square feet at $183,500
- River Heights 4 level split, 1,050 square feet with a single garage at $295,000
- Fairhaven 4 level split, 826 feet, no garage, on a busy street at $197,000
- Hampton Village, new 1352 foot bungalow, double garage at $354,365
The largest discount for a home that sold below list was a Greystone Heights 4 level split located on a busy street listed at $289,900 and selling for $265,000 after 36 days on the market.The home appeared to be well maintained but it was more or less original and in need of some updating.
I expect that we’ll continue to see a decent level of new listing activity over the next few weeks which should present more opportunities for Saskatoon home buyers. The number of new residential listings almost always increases sharply through April and May. I don’t expect that we’ll see any price relief, but there should be more homes to view.
I’m always happy to answer your Saskatoon real estate questions.
Royal LePage Vidorra