Saskatoon real estate: Week in review (November 19-23 2007)

The Saskatoon real estate market continued along at a fairly typical fall pace this week. Sales of houses and condominiums showed a marginal increase over last week but new listings also posted some gains. Overall, the active residential listing inventory fell by 12 units to 613 properties, the lowest number we’ve seen since it peaked at 689 homes the week of October 22-26.

Average selling prices were lower in all areas, except area 5 which experienced a new high of $245,677. Across all five areas, the average selling price remained just slightly above the quarter million dollar mark.

While the percentage of homes which sold above list price was not particularly significant, the average overbid ($17,249) was the highest we’ve seen since the week of October 1-5, and was driven up by just a couple of sales. A Haultain area bungalow sold more than $40,000 above asking price, and a Hampton Village bi-level was reported sold at $54,100 above list.

Saskatoon home buyers were able to negotiate some dollars off of the asking price on 58 of 73 sales, but the average underbid ($7,947) fell after three consecutive weeks above the $10,000 mark.

Here’s a bit of an update of some specific sales in various areas of the city.

• An Arbor Creek bungalow of just less than 1,100 square feet with a double attached garage goes for $345,000.
• Erindale two-storey which is close to 2,200 square feet with a double attached garage sells for $395,000
• East College Park bungalow at 1,250 feet with a double detached garage for $290,000.
• A Wildwood condo of 800 square feet sells for $165,000.
• A Stonebridge two-storey, just less than 2,200 square feet with a double attached garage sells for $575,000.
• Area 2 bungalows in the 900-1100 square foot range sell between $260,000 and $310,000.
• 1,300 square foot Lawson Heights bi-level with a double attached garage goes for $342,000.
• 1,027 square foot Meadow Green bungalow in a decent spot, no garage brings $220,000.
• Finally, one of those Meadow Green condos finds a buyer with a 660 square foot unit going for $114,900. Parkridge bungalow at 912 square feet with a double detached garage fetched $257,500.
• A near new Confederation Park bungalow, just less than 1,200 square feet with no garage brings $245,000.

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