Saskatoon real estate: Week in review (August 18-22 2008)

New listing activity in the Saskatoon real estate market slowed some this week with just 134 new properties added to the MLS in the “houses and condos” categories but the active inventory continued to make some gains climbing from 1,628 last weekto 1,667 by the close of business this week. Today, there are a total of 1,067 Saskatoon houses and 488 condominiums showing an active status on our system.

Sales continued at a rather lackluster pace with just 56 units placing a sold sign including 54 houses and condos. As of today, total residential sales for the month of August sit at just 169. Last August produced 398 sales so we have some serious ground to make up during the last week of the month. Unless something amazing happens next week it seems clear that sales will be much softer this August than they have been for a few years.

The average selling price of a home in Saskatoon bounced back a bit from last week to finish at $276,320, about $6,500 higher than last week but still the second lowest average since the week of March 10-14.

My thanks to Pamela for crunching the numbers and producing the graphic for this week’s review. You’re handling things like a real pro and I’m proud to have you on my team. Thanks for looking after things while I’m away.

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.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Vidorra