Activity in the Saskatoon real estate market this week followed the same cooling trend as the weather. The total number of homes sold dropped to just 48 units, down from 78 last week. This is more or less what we would expect as we move into December. I’m only surprised because the number of inquiries that we’re receiving on our listings is a fair bit higher than we might expect as we move towards the holiday season. The phone is ringing a lot.
Inventory held steady at 540 residential properties. At week’s end there are 290 single family homes and 194 condos showing an “open” status on the Saskatoon Multiple Listing Service.
While 5 of 48 homes managed an above list price sale, the average overbid was unremarkable at just $540 and the highest of them all topped out at $1,200. The vast majority of purchasers managed to negotiate a deal averaging close to $7,000 below list.
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.
Norm Fisher Royal LePage Vidorra