“Do you think it’s slowing down?” This is a question which is being asked by many Saskatoon real estate agents lately.
There’s no question that things have felt a little different over the past few weeks. While my last few listings have all received multiple offers and sold above the asking price, they have seen fewer showings than I would have expected just a month ago. There are still many buyers in the market for a home, and those who are active remain fairly aggressive, but it does seem that demand is starting to soften and buyers are likely to find a less competitive Saskatoon real estate market in the weeks ahead.
The “Week in review” numbers don’t reveal many solid clues but there are some marginal differences which can be seen this week, and last. The percentage of homes that are selling above the asking price has slipped below 70% two weeks in a row. We haven’t seen that since the week of April 9. The most apparent change is seen in Area 4, where fewer than 50% of reported sales were above the asking price. This past week also recorded a lower than the average number of sales when compared to activity over the past two months.
Here is a look at last week’s numbers.
I’m always happy to answer your Saskatoon real estate questions.
Royal LePage Vidorra