Saskatoon real estate sales rebounded this week after showing a sharp decline during the previous period. Local agents brought 86 firm residential sales to the MLS® system, up from 54 a week ago, but down from 101 for the same week last year. Still, 86 sales falls just shy of this year’s most productive week when 89 Saskatoon homes traded hands. The new listing activity also grew to reach 200, up from 178 a week earlier and falling slightly short of the 202 new listings brought to the multiple listing service® over the same period last year.
The inventory of Saskatoon MLS® listings continued to head upward, stopping just short of the 2000 mark at 1999. That’s higher than it was at the close of the previous week by 36 homes, and up 37 from a year ago. Today’s totals show 1073 single-family homes being available to buyers. That selection tops last year’s by about 50. Condo inventory is at 759 today, 15 fewer than were available a year earlier.
This week’s price figures are significantly skewed by upper-end activity, much like last week. The weekly median remained high at $355,000 and the weekly average took a huge jump to $385,856. While sales of high-end homes were generally strong, some extra punch to the average came from two sales, one at $2 million dollars, and the other at $930,000. This is just the third time that Saskatoon has produced a seven figure sale with a 2 at the front end. This is fairly remarkable given that it happened for the first time just last September. All three sales were at the Willow’s Golf Community. In any case, this week’s sales pushed the six-week average price for a Saskatoon home to $352,278. That’s up about eight thousand dollars from last week, and about thirty-five hundred dollars higher than it was a year ago. The four-week median price also took some gains growing more than thirteen thousand from last week to reach $339,000. That’s just a thousand dollars below where it was a year ago.
The number of “at list price” sales doubled this week to ten, and the number of homes that sold above list dropped from two to one. That single seller saw a $2,200 bonus. The remaining 75 trades went for less than the asking price netting those buyers a hefty discount of $15,688. Like this week’s prices, the average discount was skewed by large discounts on those two big sales. Together, those two homes went $415,000 below their asking price contributing some big dollars to the discount pool.
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