Any perceived “moderation” of residential listing activity in the Saskatoon real estate market was busted big as a total of 253 properties were offered up for sale on the local MLS system including 161 single-family homes and 82 condos. Total active listings spiked up to 1,259 residential units, from 1,154 at the close of last week. Today, there are 797 houses and 365 condominiums displaying the active status. An additional 66 homes are listed as conditionally sold.
Sales activity was on the weaker side with a total of 70 units reported sold, 67 of those in the house or condo categories. That would mark the second slowest sales week in the past three months, and the second largest week for new listings this year.
Remarkably, sale prices remained on the high side of the average for the year, at $323,256, just $7,000 below asking price on average. 9 of 67 sales showed sale prices, which exceeded list price by just over $13,000, while 50 buyers managed to negotiate a bit of a break, averaging $10,635.
The odds of a successful sale during any given week now sit at about 1 in 18, considering average weekly sales and new listings. Sellers need to be aware that buyers have a growing selection of properties to choose from. Don’t fall short on preparing your home for sale, and be sure that you do your research when it comes to setting a price. A fabulous online presentation of your property is a must as inventory has reached levels where buyers can’t realistically view everything that meets their needs. You can bet that many are being eliminated from the “to view in person” list because they look bad online. Everything counts today!
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.
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Norm Fisher
Royal LePage Vidorra
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