Saskatoon real estate: Week in review (January 21-25)
Typical seasonal listing activity, combined with an unseasonably strong week of residential sales caused active Saskatoon real estate listings to slide again closing the week at 356 units including 159 single family homes and 157 condominiums.
A total of 91 Saskatoon homes were reported sold on the local multiple listing service this week producing the largest volume of unit sales since the week of August 13-17.
Overbidding made a bit of a comeback this past week with 12 of the 91 homes sold reporting prices in excess of the list price, the highest number since the week of November 5-9. Overbid activity was highest in Area 5 where sales at, or above the list price occurred on slightly more than half of the homes sold. The average selling price in the area topped $280,000, driven up by an unusually high number of sales in the more expensive neighbourhoods like Dundonald, Hampton Village and Parkridge.
Across all areas, the average selling price dropped to $250,511, down fairly sharply from the previous week. In Area 1, which was by far the most active, 22 of the 31 reported sales were condominiums and the lower selling prices generated in this category caused the overall average to decline.
Geographic boundaries of “areas” defined
Process of data collection and calculation
I’m always happy to answer your Saskatoon real estate questions. Feel free to drop me an email.
Norm Fisher
Royal LePage Saskatoon Real Estate