A closer look at the Saskatoon real estate statistics for February 2007

Spring is in the air, and Saskatoon home buyers are definitely taking their real estate seriously this year. Average days on the market fell sharply from 26 days in January to just 20 days in February. Many of the better homes and condos were sold in bidding wars and by month end over 50% of the new residential listing inventory was selling at, or above the asking price. Prices were somewhat slow in reacting given the “heat” on the street. The average price of a Saskatoon home increased to $188,028 from $183,971 in January (condos and single-family detached homes).

Saskatoon real estate statistics for February, 2007

The price of a house, or single-family detached home inched up to $194,360 from $190,652 in January.


Saskatoon house sale statistics for February, 2007

The condo market continued at a crazy pace. The average selling price of a Saskatoon condominium lost a smidge to $158,924 from $161,279 the month before. The average in December was just $144,363 so they remain up fairly substantially year to date. The average selling time in the condominium category plummeted to just 11 days and the average selling price actually came in higher than the average list price.


Saskatoon condo sale statistics for February, 2007

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.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate

A closer look at the Saskatoon real estate statistics for January 2007

The first month of 2007 showed signs that the Saskatoon real estate market will likely continue to feel pressure resulting from unusually high demand and a sadly low supply of good homes for sale. 233 houses and condos changed hands, up from just 134 units in December. In spite of the hectic activity, the average selling price of a Saskatoon home (condos and single-family detached houses combined) actually declined slightly from $186,389 to $183,971.

Saskatoon house and condo sales for January, 2007

All of the decline in Saskatoon’s average selling price can be attributed to the category of single-family detached houses which dipped to $190,652 in January from their peak of $199,255 in December. The decline doesn’t realistically serve as an indicator that prices are going down, rather an absence of a few larger high end sales which were present in the December stats.


Saskatoon house sale statistics for January, 2007

Condos, on the other hand took a massive jump forward on the price scale leaping from an average of $144,363 in December to $161,279 in January. This particular market is showing some real strength. It seems that consumers are feeling strongly that prices will rise and they’re willing to pay a hefty price in the condo market for what still feels like an affordable home. These units also appear to be a target of out of province investors looking to place money in Saskatchewan.


Saskatoon condo sale statistics for January, 2007

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.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate