Saskatoon real estate: Week in review (September 10-14 2007)

The Saskatoon real estate market continued to plug along showing little real change over the previous week. New listings of Saskatoon homes outpaced sales by a fairly large margin and the week closed with 610 active residential listings on the Saskatoon MLS®.

Here are a few of the highlights.

• The percentage of homes selling above the asking price remained fairly stable at about 40%. Remarkably, area 4 showed the highest percentage of the major real estate areas.
• The “average overbid” also stayed steady and below the $10,000 mark.
• The average selling price was below the average list price in all areas except area 5.
• Average list prices and average sale prices reached a new high, largely driven by four luxury home sales with sale prices exceeding 600K. It’s quite amazing when you consider that only three properties sold for more than $600,000 through all of 2006. So far in 2007 there have been 29 sales and there are 20 active listings in that range.
• The average underbid was skewed down, particularly in area 2 where one luxury property sold $110,000 below asking price.

See a Google map displaying the boundaries of Saskatoon real estate “areas” here Data collection and calculation for our statistical reports

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