Saskatoon real estate sales activity continued its up and down dance this week as local agents reported 69 firm residential transactions to our MLS®. That amounts to an increase of 13 sales compared to the previous week and matches production for the same week last year.
The number of new listings added to the multiple listing service® also pushed higher as 178 Saskatoon homes were offered for sale for a weekly gain of 12. That’s up by just one when compared to the same week a year earlier.
The inventory of active MLS® listings continued to grow as it likely will each week over the next couple of months. This week it climbed by 54 homes and reached 1837, which is a drop of just 30 homes from this time last year. Today there are 958 single-family homes for sale in Saskatoon, 13 fewer than were available a year earlier. Condo inventory sits at 717. That roughly matches levels recorded at the close of the same week last year (down one).
A more typical mix of sales between the entry level and the upper end saw the weekly price numbers looking a bit more typical. The average price paid for a Saskatoon home grew marginally to $342,593 while the weekly median settled at $332,000. A higher weekly median price pushed the four-week median price up three thousand dollars to $327,000 which is lower than it was a year ago by five thousand bucks. The six-week average inched higher growing by less than two hundred dollars from the previous week. It finished the period at $343,016 to take an annual loss of about twelve hundred dollars.
One seller found a buyer willing to pay more than their asking price netting them a bonus of $4100 while seven others bagged a full price offer (In most cases these are new homes, some even reporting a sale price greater than the asking price, but because they’ve typically been on the market for a period of time, I’m assuming that additional value has been negotiated into those final sale prices, and I’m therefore reluctant to call them “overbids” as we would typically think of overbids, where two parties might be bidding up the price in hopes of landing the home). The remaining 62 sales went for less than the list price providing those buyers with an average discount of $11,051.
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Royal LePage Vidorra