Following a couple of weeks which showed some signs that the market may be cooling off, Saskatoon real estate buyers came out in a big way and resumed the aggressive bidding which we’ve become accustomed to seeing here.
The average selling price of a Saskatoon home crept above to quarter million dollar mark again this week after dropping to $242,413 the week of July 2, and further to $237,032 the week of July 9. Average overbids bounced back above the $25,000 mark.
Area 3 home buyers were most eager to purchase property. The average overbid in the area which begins at downtown Saskatoon and extends north to the city’s edge between Idylwyld Drive and the river valley came close to hitting $50,000, albeit on a fairly small number of total sales. Prior to this week we haven’t seen this number break the $40,000 mark in any area.
- Lakeview apartment (867’) listed at a whopping $189,900 finds a buyer at $225,000
- Forest Grove one bedroom apartment (635’) listed at $129,900 sells for $145,600 (Consider that I sold one of these units on July 1, 2006 for $64,000, and then resold the same unit on March 27, 2007 for $120,000. This recent sale represents a 129% increase in just over a year)
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