Saskatoon real estate sales activity is often on the softer side through the last week of August and the first week of September as families take a break to get kids back to school. This past week was no exception with residential real estate sales slowing to just 38 units including 36 properties in the single-family and condo categories. 23 of the 36 home sales occurred on Saskatoon’s east end. North end sellers were nearly shut out with just 2 sales being reported for the week.
If there was a retreat, most of the breaking happened on the buyer side as new listings increased from previous weeks. 167 residential properties were introduced to the market including 90 houses and 70 new condominium listings. Total actives reached a new high at 1,704 residential properties including 1,060 single-family homes and 537 condos. 686 of those properties show up as vacant, including 88 properties that are categorized as “new.” Through the course of the week, 50 residential properties were cancelled and 40 of those listings re-surfaced as new listings. 117 motivated sellers changed their pricing strategy.
Fewer than 10% of homes sold got their full asking price and the average underbid increased from last week to $13,751. The average selling price reached its highest point in a month to settle at $285,435, up from $270,911 last week.
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Royal LePage Vidorra