Saskatoon real estate: Week in review (May 14-18 2007)

If Saskatoon real estate buyers were holding out any hope that this market may have been starting to show signs of balancing, this week’s numbers provide a solid slap in the face and a reality check.

While there was some good news on the listings front when total actives briefly broke the 300 mark for the first time this year, and the largest number of new listings for any week this year came on the market, Saskatoon real estate agents also reported a record number of residential sales at 154 units.

Saskatoon home buyers continued to show their spirit and determination to get out of the market once and for all bringing offers over the list price on a full 75% of homes listed. The average overbid for all Saskatoon homes reached its highest average once again at $27,156.

Here’s a look at the numbers.

Saskatoon real estate statistics for MLS home sales from May 14-18 2007

Here are a few of the more notable sales from last week.

  • Showy Forest Grove bi-level at 1,100 square feet with no garage goes for $310,500.
  • Lakeridge two-storey (1,726’) sells for $370,000.This is only remarkable because it also sold in 2003 for $182,000 and provides a pretty clear picture of what’s happening to Saskatoon property values.
  • More than one, one-bedroom condo in the 735’ range sells in the 180’s.
  • Cute little (900’) Queen Elizabeth bungalow with a legal suite and no garage sells $62,000 over list at $270,000.
  • Large (1,584’) Montgomery Place bungalow goes $20,000 under list at $269,900. This one is a bit baffling as it has a double garage, large lot and some nice upgrades.It was left open for offers for one full week. Perhaps the best buyers for this home found something else in the meantime.

I’m always happy to answer your Saskatoon real estate questions. 

Please feel free to call or email.

Norm Fisher

Royal LePage Vidorra

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