New Saskatoon real estate listings came in at their lowest point in the past month with 199 residential properties listed for sale on the MLS including 41 condominiums and 145 single-family homes. Even still, the inventory of active listings pushed higher to settle at 1,440 units, a net gain of 53 properties compared to the close of the previous week. As of this morning, there are 931 single-family homes and 408 condominiums (1,339 total) in the “active” inventory.
You’d also have to go back a month to find a slower sales week. Total sales in the residential category sat at 72 units for the week with 65 of those properties falling in the single-family and condo categories.
Overbidding continued to slide off the map with just 3 of all sales recorded reporting an “above list” selling price. 11 sellers met their buyer at full list price, but 51 engaged in a negotiation which resulted in an average underbid of $12,026, the highest discount on record since we starting including this figure in the week in review.
Average selling prices remained remarkably high given the stiff competition sellers are facing but the gap between list and sell prices widened substantially to $9,263.
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Norm Fisher
Royal LePage Vidorra