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Saskatoon real estate: Week in review (February 26-March 2 2007)

Saskatoon residential unit sales increased to 93 homes this past week according to sales statistics from the Saskatoon real estate board.

The average selling price of a Saskatoon home was down close to $13,000 as a result of an unusually high level of activity in Area 4 where prices are generally lower than the other residential areas.

The percentage of homes which sold above the asking price increased to 43%, up from approximately 30% the previous week and 19% the week before that.

The average “overbid” also saw an increase to $6,950 from $6,037 the previous week, and $4,735 the week before that.

February MLS® sales statistics were released Friday and if anyone has any doubt as to the state of the Saskatoon real estate market, this should clear things up. The dollar volume from residential sales increased a whopping 82% as compared to February, 2006. Residential unit sales were up 45% over last year to a total of 321 homes. The average selling price of a Saskatoon home increased 26% to $188,585.

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.

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Norm Fisher
Royal LePage Saskatoon Real Estate