While the number of new Saskatoon real estate listings outpaced sales once again this week, active listings of Saskatoon homes remained steady at 424. This can be explained by a higher than usual number of expired listings (a listing which fails to sell during the agreed upon marketing period). We’ve never talked much about expired listings as they haven’t been much of a factor lately but I do wonder if we’ll we will start to see more of them. This would be another factor which one could watch for signs of stabilization. Here are the numbers of expired listings for each month over the last year.
August, 2007 (to date) – 15
July, 2007 – 29
June, 2007 – 18
May, 2007 – 13
April, 2007 – 12
March, 2007 – 11
February, 2007 – 15
January, 2007 – 30
December, 2006 – 81
November, 2006 – 53
October, 2006 – 67
September, 2006 – 71
August, 2006 – 61
It’s certainly no big surprise that expired listings have fallen off substantially this year, but there does seem to be a growing number of them over the last couple of months.
Buying activity appears to have been fairly consistent with what we’ve come to expect with over 60% of Saskatoon real estate sales being reported as “sold above the asking price.” Activity was strongest on Saskatoon’s east side where the majority of sellers hit the overbid jackpot with close to 80% of homes selling over list price. Areas 3, 4 and 5 were much closer to 50%.
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