Saskatoon real estate agents saw another spring-like week with firm sales of residential properties hitting 102, up just one from the previous week for an annual increase of seven home sales. As the month of April came to a close, total residential sales came in at 382, down from 397 last year. New MLS® listings moved higher as they increased to 220 units, up from 202 last week for a year-over-year increase of 20 units.
As is the case at a typical month end, a slew of active listings came to the end of their listing term without a sale this week and expired from the system. The total number of active MLS® listings in the residential category slid lower by 37 units compared to last week’s close to settle at 1925 for an annual increase of just 20 homes, the smallest year-over-year gain to the inventory in almost three years. It will be interesting to watch active listings over the next few weeks. Will we see our first year-over-year inventory decline soon? Stay tuned. The number of options that buyers could find in the single-family home category is now at 1026, down from 1052 at this time a year ago. Condo inventory is at 732 units today, up from 647 a year ago.
A lot more activity at the market’s entry level brought the median sale price and the average sale price of a Saskatoon home lower this week to $308,000 and $337,655 respectively. The six-week average price slipped about seven thousand dollars this week to settle at $341,456 recording an annual decrease of about 5K. The four-week median price fell a bit more coming in at $331,000 for a weekly decline of nine grand, and a year-over year drop of six thousand dollars.
Sellers found a bit of love this week as 18 buyers made a full price offer to firm up their deal. Another five bid even more than asking price to pay their seller a bonus averaging $1,980. Meanwhile, 79 sales closed below the asking price netting the buyer an average discount of $11,882.
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