Whether or not you wish to call it a downtrend, there should be little question that the Saskatoon real estate market has cooled considerably when compared to recent months. It’s beginning to feel “normal” again with listings lingering a little bit longer and prospective buyers are once again feeling like they have some options which didn’t exist just a couple of months ago. The inventory of active residential listings reached 631 units, the highest point this year.
Overbidding activity continued to cool with only 20% of Saskatoon homes selling for more than the asking price, down from 30% the week before. A full 71% of reported sales traded below the asking price. The average overbid declined again, to its lowest level since I started the week in review.
This past week’s average selling price was up several thousand dollars from the previous week but was still well below numbers recorded just a few weeks ago.
Here’s a look at the numbers from this past week.
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