The Saskatoon housing market produced its strongest weekly sales numbers for the 2017 calendar year as local real estate agents reported 66 firm residential sales to the multiple listing service®, up from 52 last week for an annual increase of 14 home sales. The number of new listings added to the system remained steady compared to the week before at 156 but finished well ahead of the 130 Saskatoon homes that were added to the MLS® system over the same period last year.
The total number of active listings available through the MLS® continued to make weekly gains as it grew by 38 units to reach 1707 homes and closed the week slightly down from levels recorded a year ago. At that time, there were 1715 residential properties showing an active status on the system. Today’s totals include 874 single-family homes. That’s 36 fewer houses than were available at the close of the same week last year. Of course, we also have 682 condos for sale across all Saskatoon neighbourhoods. That puts us ahead of last year’s levels by 35 units.
Strong activity at entry levels ushered the weekly median price of a Saskatoon home lower to $316,200. Still, with more than ten percent of the week’s sales topping $500,000 and one sale reaching nearly a half a million dollars, the weekly average made some modest gains and reached $340,663. Meanwhile, the six-week average price grew by just a few hundred dollars from last week to close at $339,831. That’s down just two thousand dollars from where it stood a year ago but still at its lowest point for this particular week since 2013. The four-week median price also edged lower compared to last week. It finished the period at $322,500 which is down $7500 from a year earlier, and also its worst performance during this week in four year’s time.
Like the previous week, only one seller found a buyer willing to outbid someone else who also wanted their home, but this buyer went big offering $26,100 more than the asking price. Four others generously offered to pay the full asking price. The remaining 61 buyers pushed for a discount and netted an average saving of $12,422.
I’m always happy to answer your Saskatoon real estate questions. Please feel free to call or text at 306-241-6676 or email me at norm@teamfisher.com.
Norm Fisher
Royal LePage Vidorra