In spite of a reduction in new residential listings and marginally higher home sales the Saskatoon real estate market continued it slow but steady trend towards “balance.” A total of 110 Saskatoon homes were placed on the market, while 83 detached homes and condominiums were reported as having sold. The total number of active residential listings stood at 617 at the week’s end.
It was one of those weeks that just felt slow. Agents were talking about a lack of showings, particularly on homes priced much above the “average.”Only 30 listings were published as “conditionally sold” which could mean some fairly bleak “firm sale” numbers over the coming week.
Here are a few of the highlights from this week’s stats as I see them.
- This week saw the lowest number of new residential listings (110) since the week of April 23-27.
- The percentage of Saskatoon homes selling for more than the asking price dropped to its lowest level (30%) since the week of February 19-23.
- This week brought the largest percentage of sales recorded below the asking price (59%) since I started the “Week in review.”
- The average list price and average sale price of a Saskatoon home was driven lower due to a decrease in area 1 activity and an increase in area 4 home sales.
- Area 5 sales stood out against activity in all other areas with 6 of 9 homes selling above list price and an “average overbid” of more than $12,000.
I’m always happy to answer your Saskatoon real estate questions.
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Norm Fisher Royal LePage Vidorra