Saskatoon real estate: Week in review (February 25-29 2008)

New Saskatoon real estate listings topped 100 for the fourth week in a row but brisk sales activity prevented inventories from making any significant gains. We finished the week with a total of 370 active residential listings including 204 houses (single-family homes) and 127 condominiums. Important note: due to pending changes with the Saskatoon MLS system, no sales were processed on Friday so active listings and sales figures from this week are slightly off.

A total of 92 Saskatoon homes traded hands, a slight decline from reported sales last week.The percentage of homes that sold above the asking price took a jump forward to about 37% of all sales processed. The average overbid increased as well, pushing towards $15,000 and reaching its highest level since the week of November 19-23, and more than double what it was for the same week last year.

The average selling price of a Saskatoon home exceeded the average asking price for the first time since the week of October 1-5. On average, residential properties fetched about $800 more than the asking price. Still, 39 savvy buyers managed to negotiate a below list purchase at almost $7,600 below the asking price.

Notable sales

• 1,000 square foot four-level split with a double garage in Lakeview will set you back $369,000.
• Lakeview apartment at 878 square feet goes $19K over list at $199,000.
• East College Park bungalow of 1,040’ with no garage is $310K.
• Avalon bungalow of 1,186’ with a single garage sells $64 over asking price at $390,000.
• Eastview apartment at 880’ fetches $218,000.
• River Heights two-storey at close to 2,000 square feet sells $47K over at $502,000.
• 1000 square foot Hudson Bay Park bungalow with a single garage goes $38K over at $308,000.

See a Google map displaying the boundaries of Saskatoon real estate “areas” here Data collection and calculation for our statistical reports

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