Saskatoon real estate: Week in review (August 11-15 2008)

Saskatoon real estate: Week in review (August 11-15 2008)

New listing activity in the Saskatoon real estate market picked up again as the local MLS system welcomed 165 new listings including 157 properties in the single-family homes and condo categories. Total active listings pushed further forward and finished the week at 1,628, up significantly from 1,555 last week. At the close of business Friday there were 1,047 houses and 469 condominiums still looking for a buyer.

A total of 61 properties changed hands, up sharply from last week’s poor performance but still below the numbers that we might expect at this time of year. 58 of the 59 houses and condos which sold recorded sale prices below the asking price and overbid sales where nowhere to be found for the first time this year. The average underbid remained consistent with recent weeks.

The average selling price of recorded sales came in at just $269,802 taking a huge dip from the monster number recorded last week to finish the week at its lowest level since the week of March 10-14.

Many of this week’s sales produced fairly strong numbers but some of them stand out as better buys, at least in comparison to where they may have sold a few months ago.

Notable sales.

  • 864’ bungalow in East College Park with a single garage sells for $249,000.
  • 1,768’ Erindale two-storey split with a double garage trades at $410,000.
  • 882’ condo in Forest Grove sells at $176,000.
  • 875’ condo at Lakeshore Estates in Lakeview brings $180,000.
  • 1,148’ Silverwood bungalow with a single garage goes for $310,000.
  • 864’ Confederation Park bungalow with a single garage sells for $229,600.

I will be away on vacation through September 1. The “Week in Review” will continue through that time but that will likely be the extent of my involvement during that time. My assistant Pamela will be moderating comments. Please take it easy on her and do your best to avoid nasty arguments. :) Once again, thanks so much for your contribution to our efforts. I look forward to joining the discussion again when I return.

Saskatoon real estate: Week in review (August 11-15, 2008)

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.

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Norm Fisher
Royal LePage Vidorra

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