This past week produced the highest level of sales activity that we’ve seen since the week of July 28-August 1 with a total of 70 house and condo sales firming up, but just 20 additional properties are displaying the “conditional sale” flag, about 50% lower than what’s typical lately.
The average selling price was significantly lower than it has been in recent weeks, but a couple of large sales kept it above the $300,000 mark for the third consecutive week. Another residential sale over one million dollars was processed this week so the average selling price for the week was still subject to some skewing. The monthly numbers will also be affected. To the best of my knowledge this is the first month ever in which two residential sales topped that benchmark.
The percentage of sales that occurred at, or above the list price spiked higher than in recent weeks as five sellers get their asking price and four received an average of $18,000 more.
I’ve missed a couple of big housing stories this week. I’ve been away at a conference in St. John’s since Wednesday so a busy schedule has prevented me from spending much time here. To top it off, the hosting company that has been hosting my images seems to have performed a disappearing act so all of my free time has been spent switching hosts to get my images back online. I’ll try to write something about the new Merrill Lynch report, and the paper that Scotiabank releasedin response.
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Royal LePage Vidorra