After a few fairly strong weeks to start the year, Saskatoon home sales fell a bit flat this past week as local real estate agents reported just 44 firm residential deals to the MLS® system. That number fall shorts of sales recorded the previous week by 12, and behind sales during the same week a year ago by the same amount.
The number of new Saskatoon real estate listings that were added to the multiple listing service® increased by 12 from the previous week to finish lower than they were over the same period last year by 22 homes.
The number of homes that are currently offered for sale on the Saskatoon multiple listing service® grew by just three on a weekly basis, but enough to keep levels higher than they were a year ago for the third consecutive week. At the close of business for this period, home buyers had a selection of 1630 active real estate listings to choose from, up modestly from the same time last year when 1617 listings were displaying an active status. Today, we have 849 single-family homes for sale, down from 883 a year ago. The condominium category is showing some strong year-over-year gains as those numbers grow to 635 units, up from 576 last year.
Even though upper-end home buyers were not particularly active this week, the median sale price of the 44 Saskatoon homes sold was $324,000 which is up about 10K from last week. The average price for the week slipped a couple of thousand dollars to $341,039. Meanwhile, the six-week average price took some gains for the second week in a row as it rose a little more than two thousand dollars from the previous week to $342,933 for a year-over-year drop of about seven thousand dollars. The four-week median price continued to swing wildly as it fell more than seventeen thousand dollars from last week to settle at $320,000 and record an annual loss of nearly 23K.
Six of the week’s 44 home sales showed a selling price that matched the asking price on the MLS® listing, while two deals went for more and netted those sellers an average bonus of $3,600. The remaining 36 transactions closed below the asking price showing an average discount of $12,042. The largest gap between the list price and the sale price for the week was on a Sutherland area home that went $30,000 (roughly ten percent) below the asking price after 105 days on the market.
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