The inventory of Saskatoon real estate listings slipped slightly this week to 347 houses and condos, down just a bit from 356 units the week before. Available stock of single-family homes actually increased by 10 properties to 169, and condo inventory fell from 157 units last week to settle at 142.
Total unit sales were down from last week but still well above the average that we’ve seen over the last seven or eight weeks. A total of 76 houses and condos were reported sold through the Saskatoon Multiple Listing Service.
The market continued to show some signs of heating up as the percentage of Saskatoon homes selling above list price reached its highest level since the week of October 8-12, but still well below the numbers we were seeing by this time last year. The average overbid, and the average underbid both fell slightly.
Though I can see and feel a little momentum building, it does seem to feel very different than it did last year. In the early part of 2007, you could sense the desperation of prospective home buyers. There seems to be less of that this year, I suspect that’s due to diminishing demand within that group of consumers.
Investor activity remains strong with little thought being given to who they’ll eventually sell these homes to.
Due to a large number of condo sales, including a small handful of tiny bachelor suites, the average selling price of a home reached its lowest level since the week of November 5-9 when it dipped to just $227,000.
It’s been a long while since I pointed out some specific sales. I’ll do that this week to give you some idea of where prices are at today.
- 897 square foot University Heights condo with underground parking sells for $250,000.
- 880 square foot Wildwood apartment fetches $192,900.
- 2,100 square foot two-storey split in Willowgrove will set you back $589,000 or downsize to a new 2-storey at 1,152 square feet for $294,000.
- 1,040 square foot Wildwood bungalow without a garage goes for $299,900.
- 989 square foot bungalow in Adelaide Churchill with a double detached garage for $315,000.
- 420 square foot City Park condo with no bedrooms sells for $130,000.
- 908 square foot bi-level in Westmount brings $239,000.
- 1,000 square foot Mount Royal bungalow with a single detached garage sells at $255,000.
- 1,200 square foot bungalow in Dundonald with a double attached garage fetches $329,900.
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