Saskatoon home buyers found little relief from pressured prices this past week. While the percentage of homes which sold at or above their list price declined from 70% to 61%, the average overbid in instances where homes sold over list price increased to $14,155 from $12,144 the week before.
Area 4 had the lowest percentage of over list sellers with 60% of homes selling at a bit of a discount. The average overbid dropped from $9,100 to just $5,917.
Area 5, where housing inventories remain tightest, showed an average overbid of $18,767, a big increase from $13,975 the week before. Here are the numbers.
One doesn’t have to look far to see frustrated home buyers and exhausted agents. I can’t help but think this market is taking its toll. A number of buyers wondered out loud if they should just give up as their continued efforts to get into the Saskatoon housing market continued to deliver no results.
I am also ready for a little relief but there seems to be no end in sight. There are 236 active MLS® listings of condos and houses on the market today, which I believe is a record low.
Anyone who is actively looking right now knows that the majority of those have conditional offers on them.
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Royal LePage Saskatoon Real Estate