The number of new residential listingsrose marginally but stayed well below levels seen early in the year when they ripped onto the market like the starting flag to for the Grand Prix had been waved. This week saw 156 residential properties added to the multiple listing service®, up six from the previous week to top numbers recorded during the same week of 2014 by 21 properties.

The inventory of active MLS® listings in the residential category pushed higher once again and reached 1552 by week’s end to finish up by 38 homes from the last week’s close. That’s a year-over-year increase of 31 percent, for 369 more Saskatoon homes for sale than there were a year ago. Condominiums continued to show the greater gains (37 percent year-over-year) as the number of available units headed from 390 at this time last year to 534 today. Single-family homes options faired a bit better but still increased 22 percent from a year ago when 688 houses were for sale in Saskatoon. Today there are 839 houses available on the MLS®.

An increase in activity at the upper end of the market with a $1.1 million sale in the mix saw both the average and median price of a Saskatoon home head higher this week to $375,369 and $340,000 respectively. The longer term number showed remarkable stickiness for a market that is seeing fewer sales and a higher number of listings, in fact, they both grew this week to finish at, or near annual peaks. The six-week average price edged higher rising just a bit more than a thousand dollars from last week to reach $360,566 for a year-over-year increase of roughly eight thousand dollars. The four-week median price rose a little more growing $2,500 from last week to hit $337,500 for an annual loss of $2,700.

Five lucky Saskatoon home sellers managed to generate some love and close a deal above their asking price by an average of $2,630. Another 43 gave up some equity to close a deal below the asking price with an average discount of $9,607. The remaining eight sales were reportedly sold for the seller’s full asking price.

Other notable real estate activity this past week included 48 cancelled and withdrawn listings (45 and three respectively), 16 expired listings and 43 price changes.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

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.

Norm Fisher

Royal LePage Vidorra

The number of new residential listings to hit the MLS® systemmoderated a bit slipping to 150 homes, down ten from last week but ahead of listings generated during the same period a year ago by nearly 40 properties.

Inventory levels pushed higher again making small weekly gains from 1500 to 1514 by week’s end for an annual increase of 311 properties. Once again, condo inventory levels show the greatest year-over-year increases having climbed from 391 a year ago to 518 today (growth of 32 percent year-over-year). Meanwhile, the number single-family homes that buyers have to chose from has grown from 697 at this time last year to 824 today (an increase of 18 percent).

Saskatoon home prices continued to show pretty remarkable resilience, even as new listings sat at levels nearly twice those of sales. A bit more activity at the lower end of the market saw the median sale price of a Saskatoon home fall lower to $330,000. The average sale price moved in the same direction slipping to $361,469 to lose about four thousand dollars from last week. The longer term measures both moved marginally lower as the six-week average price of a Saskatoon home slipped by less than two thousand dollars to $359,523 and recorded an annual increase of roughly five thousand dollars. The four-week median price fell a bit more losing $3,000 on the week to settle at $335,000 slipping below numbers recorded for the same week last year by twenty four hundred dollars.

Conditions were right for 55 of 67 home buyers this week as they negotiated a discount averaging $12,223. Just three buyers came in with an above asking price offer. Those deals wrapped up with an average bonus of $2,357 being paid to the seller. The remaining nine sales were reported to have sold at the seller’s asking price.

Other notable real estate activity this past week included 41 cancelled and withdrawn listings (34 and seven respectively), 21 expired listings and 35 price changes.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

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.

Norm Fisher Royal LePage Vidorra

The number of new listings added to the MLS® systemfell lower by 16 when compared against the previous week. A total of 160 homes entered the system this week, enough to finish ahead by 31 listings when compared against the the same week of 2014.

Softer sales and strong listing activity continued to push the total inventory of Saskatoon homes for sale on the multiple listing service® higher for the sixth week in a row. This week, the tally hit 1,500 for weekly growth of 31 and annual gains of nearly 300 properties. The inventory of available single-family homes grew from 710 a year ago to 830 today, a 17 percent year-over-year gain. Meanwhile, condo inventory pushed higher from 381 at this time last year to 510 today for an annual percentage increase of 34 percent, nearly twice that of single-family homes.

The balance between higher end sales and entry level sales remained steady from last week with a median sale price hanging firm at $338,000 while the average sale price of a Saskatoon home edged slightly lower losing about two thousand dollars from last week to close at $365,820. The longer term measures both inched higher with the six-week average sale price gaining about twenty-five hundred dollars over the course of the week to finish at $361,236 to claim an annual increase of a bit more than ten thousand dollars. The four-week median price of a Saskatoon home went to $338,000 for a gain of $1,750 on the week and an annual spike of about thirteen thousand dollars.

The number of homes to sell for more than the seller’s asking price reached its highest level in at least a couple of months with eight sales generating an average overbid of $20,952. This number is largely driven by new home sales reported well above asking price that almost certainly included extra improvements that were negotiated after the asking price had been set. On the other side of the negotiating table, 48 buyers ground a deal that netted them an average discount of $10,800. The remaining seven sales closed at the seller’s full asking price.

Other notable real estate activity this past week included 42 cancelled and withdrawn listings (40 and two respectively), 23 expired listings and 42 price changes.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

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.

Norm Fisher

Royal LePage Vidorra

Where local agents were’t run off their feet completing sales, new listings filled the gap. A total of 176 residential properties were added to the Saskatoon MLS® system, up 46 from last week to top numbers reported for the same week a year agoby 11.

Total active residential listings took some small gains rising by 22 units from last week’s close to 1,469 to finish up on the same week last year by 289 available Saskatoon homes for sale. At the close of business this week, local home buyers could find 817 single-family homes brandishing a for sale sign, up from 701 a year ago, and 495 condominiums, up from 369 at the same time a year ago.

A bit of a soft spot in sales below the $200,000 mark saw the weekly median and the weekly average take gains as they rose to $338,000 and $367, 199 respectively. The six-week average price took its largest jump this year rising more than seven thousand dollars from last week to reach $358,726 and claim an annual increase of a bit more than thirteen thousand dollars. Meanwhile, the four-week median remained stable on a weekly basis closing at $336,250 for the second week in a row to mark annual gains of about 12K.

Four of this weeks closed transactions were reported to have sold for more than the asking price, paying an average bonus of $12,437 thanks in part to one deal that went $40K over list. It was a new home and likely included extras that hadn’t been contemplated when the list price was selected. On the flip side, 43 buyers negotiated a discount that averages $12,650. The other ten deals were reported to have closed at the asking price.

Other notable real estate activity this past week included 50 cancelled and withdrawn listings (48 and two respectively), 54 expired listings and 35 price changes.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

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.

Norm Fisher

Royal LePage Vidorra