Saskatoon real estate sales reached a new annual high this week as local agents reported a total of 81 firm residential deals to the multiple listing service®, up nine from the previous week, but down by 13 sales when compared against numbers generated during the same period last year. Meanwhile, month end listing activity was quite strong as 200 new residential listings hit the MLS® system for a weekly gain of 37. These numbers were down from the same week last year when 214 new listings were added to the system.
The number of active residential listings available to Saskatoon home buyers took a slight dip as month end expired listings prevented the numbers from growing. This morning, there are a total of 1854 active listings, which is ten fewer than there were a week ago. Still, that number is enough to show year-over-year inventory gains for the first time since early February. At the close of the same week last year, total inventory sat at 1833. The largest growth is actually in the single-family homes category where we have 999 properties for sale, up from 955 a year ago. Condo inventory shows a rare year-over-year decline with 705 active listing today, versus 710 a year earlier.
This week’s average sale price was driven higher by a 1.15 million dollar sale. It came in at $341,627. The weekly median remained on the low side at just $314,250 as entry level buyers were quite active. The six-week median price made some modest gains growing by about three thousand dollars from last week to reach $341,627 and finishing the week with an annual increase of about six hundred dollars. The four-week median price fell just two hundred dollars from a week earlier to $314,250 to show an annual loss of nearly 18K.
Sellers had a decent week as five sales were reported at the asking price and another four hit the books recording a sale price that was greater than the seller’s list price by an average of $5,519. Meanwhile, the remaining 72 sales went below list with an average discount of $11,990.
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Royal LePage Vidorra