The Market in November
By Kent Braaten. Updated on December 6, 2013
Overall year-to-date there is an increase in the number of homes selling over $350,000 however in the past two months there has been a reduction in the number of homes sold in this range compared to last November.
New number of new listings for 2013 is up 10% over last year. However there were many listings that failed to sell as a result of being overpriced or have been relisted at a reduced price in order to bring them closer to market. The average selling price for the year is up 4% over last year which contributes to the overall sales volume pushing closer to 1.5 billion is Saskatoon.
Overall the market continues to be healthy with a strong demand for homes in the $300,000 to 500,000 price range. The surplus of inventory over $500,000 is due to a couple of factors such as unrealistic expectations when pricing as well as over 200 new home builders with product on the market.
If you have any questions about Saskatoon's Real Estate Market, please feel free to give me a call at (306) 370-2629 or email at email@example.com.