It was another interesting week in the Saskatoon real estate market. For the second week in a row, new listings outpaced sales and active listings reached their highest level since mid-December of last year. Today, there are 292 Saskatoon houses and condominiums with an “active” status on the Saskatoon MLS®.
The number of homes reported sold also dropped fairly significantly when compared to recent weeks at just 86 units.
You might expect that fewer sales and more listings would add up to a bit of a break from home buyers but that doesn’t seem to be the case. In fact, the percentage of listings which sold above the asking price reached a new high of 77% when looking at all major Saskatoon real estate areas. East side home sellers hit the overbid jackpot with 87% of homes reported sold going for more than the asking price.
Average overbids topped $25,000 in all five areas, a first since I started publishing the “Week in review” back in the middle of February. The average overbid reached its highest level yet at $26,313.
Here’s a look at the numbers from last week.
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Royal LePage Saskatoon Real Estate