In spite of market conditions which should clearly be working in favour of Saskatoon real estate buyers, sellers who managed to strike a deal on their home this week did quite well, particularly in the east end areas.
New listings of Saskatoon homes outpaced unit sales by two to one with 113 condos and single family homes offered up for sale on the Multiple Listing Service®. Active listings in the residential category reached an all time high for the year at 641 units. Only 56 homes were reported sold throughout the week which is the lowest number recorded since the inception of the “Week in review.”
The highlights as I see them.
- The percentage of homes selling above the list price increased to 29% from its previous record low of 20%.
- The average overbid soared to its highest level since the week of July 23-27.
- Area two produced the highest average overbid ever recorded in the history of the “Week in review,” largely driven by one property which sold $181,000 above list price.
- The average selling price exceeded the average asking price for the first time since the week of August 27-31.
- The average selling price of a Saskatoon home bounced back above the quarter million dollar mark following a fairly sharp drop during the two previous weeks.
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