Saskatoon real estate: Week in review (May 21-25 2007)

Home buying and listing activity remained strong last week in spite of the long weekend with a total of 126 new residential listings and 104 home sales reported to the Saskatoon MLS®.

The average selling price of a Saskatoon home reached its highest point since I began tracking weekly activity at $251,164.It’s important to note that this number can be greatly impacted by an unusually high number of luxury home sales and that appears to be what happened last week. Area 1 showed 10 sales of homes above the $400,000 mark and Area 2 produced a sale at $959,000, the highest-priced home ever recorded sold on the Saskatoon MLS® system.

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

• The two-bedroom walk-up apartment hit a new high as an 820 square foot unit in Wildwood sold for $190,000.This is one of those apartments which you could have taken your time thinking about last fall and easily bought for $90,000.
• River Heights bungalow (1,236’) with a single attached garage goes for $370,000.
• Haultain bungalow at 850’ with a single garage brings $275,000.
• Dundonald bi-level at 1,251’ with a double attached garage fetches $345,000.
• Arbor Creek four-level split on Kenderdine Road (1,024’) goes for $365,000.

• 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 the 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. 

Norm Fisher

Royal LePage Vidorra