Sales activity came in at a seasonally appropriate level as Saskatoon real estate agents reported 70 firm sales to the multiple listing service®, up three from last week, and down two from the same period last year. New listings slipped lower with 183 properties being added to the MLS® for a weekly decline of six and an annual increase of 24 Saskatoon homes.
The total number of properties available on the multiple listing service edged lower to 2117, a decline of just over 30 homes when compared against last week’s close. Listing inventory remains well up from a year ago when the number of homes available had fallen to 1852. Today’s totals include 1264 single-family homes, up from 1004 a year ago. Condo inventory fell lower over the week to 745 but it remains up from a year ago when 695 units were for sale.
Sales at the lower end of the pricing spectrum were dominant enough this week to move the weekly median price way down to $285,000. With just three sales reported to have sold for more than $500,000 the average for the week also tumbled lower to just $307,291. The six-week average price lost nearly 10K this week as it fell to $341,730. That’s down nearly $11,000 from a year earlier. The four-week median price took a serious dive to $317,000 finding itself down $17,500 from a week ago, and $28,000 lower than it was at the close of the same week last year.
Three sellers managed to wrap up a deal above their asking price netting an average bonus of $1,100. As expected, buyers won the week as 63 of this week’s 70 deals were reported to have sold below the seller’s list price netting an average discount of $13,465. Area three showed the largest average discount of $22,540 as two of the five sales went more than ten percent below the asking price.
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