Saskatoon real estate week in review: April 26-30 2010

Saskatoon real estate week in review: April 26-30 2010
You might say, “everything was looking up this week” in the Saskatoon real estate market with more sales, more listings, more homes for sale, and more dollars on the table for an average Saskatoon home.

Units sales pushed towards their annual peak this week with a total of ninety-four single-family detached houses and condos reported firmly sold to the Saskatoon MLS system, a gain of six on the previous week and well ahead of the seventy-seven homes sold during the same week last year.

A total of 139 homes were offered for sale, up just three from last week and also three higher than this same week in 2009.

Click the image for a larger version of the graph.

Month end expired listings took a slice of the active inventory to moderate gains for the week. Total active listingssit at 1,225 today, up just eleven properties from last week, and still a couple hundred units shy of the 1,439 Saskatoon homes that made up the inventory at this same point in 2009. As of this morning there are 722 houses and 444 condominiums displaying an active status on our system.

Click the image for a larger version of the graph. Active Saskatoon real estate listings on MLS at May 1 2010

Cancelled and withdrawn listings came in at thirty-five with twenty-two being immediately re-listed. Fifty-five price changes were recorded this week.

All three price measures continued to climb. The average selling price of a Saskatoon home reached $304,500 to gain a little more than five thousand dollars on a week-over-week basis. The six-week average also moved five thousand dollars higher to reach its highest point this year at $296,276. That number is up just over nineteen thousand dollars compared to the same week last year. The four-week median followed in the same direction and at roughly the same pace moving five thousand dollars on the week to $285,000 and beating last year’s number by more than twenty thousand dollars.

Click the image for a larger version of the graph.

Overbid activity doubled from last week but was still pretty tame as just six of ninety-four homes sold reported a price above the asking price at an average of $7,611. Three Saskatoon sellers struck a deal at their list price while eighty-one did the back and forth thing with their buyer to settle at a number that amounted to an average discount of roughly 2.6 percent, or $8,031.

Click the image for a larger version of the chart.

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

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