New listings were up just slightly over last week to one hundred and thirty six homes, and well below last year’s number of two hundred and twenty eight. The typical batch of month end expired listings caused the total residential inventory of Saskatoon homes for sale to fall from 1,472 last week to 1,410 this morning but strong renewals and soft sales of Friday brought them back to 1,439 by the end of the day. At the close of business today, eight hundred and sixty five houses and four hundred and eighty-six condominiums are displaying an active status on our MLS system.
Eighty-nine home sellers adjusted their price this week in hopes of attracting a buyer. An additional twenty-eight homes were canceled and re-listed, most at a new price.
The average selling price of a Saskatoon home took a $5,000 decline compared to last week slipping to $280,117 while the six-week average and the four-week median both increased again. The six-week average moved up to $276,929, recording its fourth consecutive week-over-week gain and reaching its highest level since the final week of February. Still, this price measure remained lower than it was during this week last year by just over $26,000. Meanwhile, the four-week median took a slightly larger gain growing $4,500 over last week to finish at $264,450 and reaching its highest level since the first week of March. Once again, year-over-year losses were recorded but at a much smaller number than compared to recent weeks. It’s down $15,750 from the same week in 2008.
Two home sellers managed to complete a sale at a price higher than list and those two sales generated an average overbid of $20,550. Both of the overbid properties were new homes so the agreed upon price may have included additional value. Another seven sellers got their price, while sixty-six others came to the negotiating table and sliced an average of $12,718, or 4.3 percent from their asking price to close the deal.
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.
Follow our daily updates on Twitter @Norm_Fisher.
Royal LePage Vidorra