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

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

On the surface, Saskatoon real estate activity this past week looked fairly similar to the week before. We saw about the same number of new residential listings enter the market and total active listings held steady at 364 units including 189 houses (single-family homes) and 135 condominiums. 98 Saskatoon homes found a buyer, up just a smidge from last week.

Just the same, it was a week for sellers. Strong demand continued to provide them with almost every advantage in spite of inventory levels being up about 40% over last year. The percentage of homes selling at, or above the asking price climbed to almost 60% and the average overbid took a substantial jump, breaking the five digit mark once again. Nine of the twenty five overbid sales were above the asking price by at least $10,000 and one exceeded the asking price by $52,500. Overall, activity was brisker and more aggressive than it was during the same week last year.

The average underbid on the 40 properties which traded below the asking price was also strong at nearly $9,000. These numbers were skewed upwards by one area three properties priced at nearly a million dollars which sold $110,000 below the list price.

The average selling price of a Saskatoon home reached its highest point for any single week at $275,271.

Notable sales

  • A war-time one and one half storey (1,000’) in the Exhibition area, no garage fetches $261,000.
  • 740’ apartment on 8th Street goes for $175,000.
  • Adelaide Churchill bungalow of (1100’) requiring upgrades galore sells $52,500 over list price at $327,500.
  • Haultain bungalow (1,074’) with no garage goes for $371,500.
  • 780’ apartment in Riversdale trades at $159,500.
  • A Confederation Park bungalow (1,080’) without a garage can now set you back $270,000.

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

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