Saskatoon real estate: Week in review (July 28–August 1 2008)

On the heels of one of the poorest performing weeks for Saskatoon real estate, this past week produced 84 residential unit sales, including 80 single-family homes (houses) and condominiums, the highest volume of residential sales reported since the week of June 9-13.

Total new residential listings came in at 155, including 139 single-family homes and condos. Overall, active residential listings declined slightly to 1,500 units including 976 houses and 418 condos. Active single-family home listings are at the same level as last week while a stronger week of condominium sales caused inventory to drop by 12 units.

The average selling price for the week hit its lowest level since March 10-14, largely driven down by stronger condo sales, particularly in area one where 20 of 28 sales reported were condominiums.

Underbid activity reached one of its highest level this year with 74 of 80 home buyers managing to negotiate some kind of a discount from the asking price, but the average underbid dipped to its lowest level since the week of June 16-20.

Saskatoon real estate: Week in review (July 28 – August 1, 2008)

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Norm Fisher
Royal LePage Vidorra

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