Saskatoon real estate week in review: April 26 - May 2, 2015

The Saskatoon real estate market saw a slight cooling in both new listings and sales this week. Local agents reported 95 residential sales to the multiple listing service®, down nine  from the previous week, falling short of numbers recorded for the same week last yearby 15.

The number of new listings added to the MLS®came in at 200 even, down 14 from last week, and below the total number of new listings for the same period last year by 18 homes.

The number of residential properties listed for sale on the Saskatoon multiple listing service® grew again, this time by just four homes from the close of last week to finish at 1905. That’s the smallest weekly increase that we’ve seen this year. The closing total for this week has us up 483 homes from where we sat at this date last year. Over the same period of time, the number of single family homes offered for sale in Saskatoon has grown from 862 to 1052. Meanwhile, condo inventory has increased to 647 units, up from 444 a year ago.

This week brought price gains across the board as the average sale price of a Saskatoon home hit $362,569. The weekly median price grew to $340,000. The six-week average took it’s third consecutive weekly increase growing by just less than three thousand dollars this week to $349,376. That’s lower than it was the same week a year ago by roughly three thousand dollars. The four-week median price of a Saskatoon home moved up six thousand dollars from last week to close at $343,000 for an annual increase of seven thousand dollars. This was the fourth week in a row that the four-week median price moved higher.

Six sellers made off with an above list offer netting an average overbid amount of $15,462 while three others accepted a full price offer. Another 86 sellers agreed to a discount averaging $9,220 to close their deal this week.

Other notable real estate activity this past week included 60 cancelled and withdrawn listings (54 and six respectively), 46 expired listings and 74 price changes.

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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