Saskatoon real estate sales continued to cook last week as local agents reported ninety-seven firm house and condo deals to the multiple listing service®. That total places the week’s volume among the top five sales weeks this year for an increase of seventeen units compared to the previous week and a gain of thirty-three when compared against the same week last year. New listings showed a slight decline on a weekly basis falling for the third consecutive week. Saskatoon real estate agents brought in one hundred and one new listings to the Saskatoon MLS®, seven fewer than the previous week and forty fewer than were listed during the same week in 2010. Click the image for a larger version of the graph.
The total inventory of Saskatoon MLS® listings in the residential category finally took a dip of some significance as totals slid by forty-two units over the course of the week to reach 1368, its lowest point since early May. For the first time since early June, year-over-year listing numbers are showing a decline, however modest. At the same date last year there were 1387 residential listings available on the Saskatoon MLS®. As of this morning, buyers can find 810 single-family homes and 475 condos showing an active status on the system. Last year at this time those two categories stood at 827 and 488 respectively. Click the image for a larger version of the graph. Cancelled and withdrawn listings slid lower with just twenty-nine listings being removed from the system. Nineteen of those homes made a same day return with a new MLS® number and “days on the market” reset to zero. An additional forty-seven price changes were processed throughout the course of the week. The median sale price of a Saskatoon home showed some growth after last week’s sharp fall. It finished up nearly five thousand dollars at $292,500. The average sale price moved higher by about six thousand dollars to $306,604. The six-week average price inched up about a thousand dollars this week to just over $306K, up from $297,291 for the smallest year-over-year gain we’ve seen since mid April. The four-week average went against the tide this week and dropped by fifteen hundred dollars to $300,000 to finish the week with a year-over-year gain topping sixteen thousand dollars. Click the image for a larger version of the graph. Overbid sales were nearly non-existent with just two sellers reporting a price above the list price. Both of those deals closed at just $100 higher than the seller was asking. Another thirteen sales closed at the full asking price. Eighty-two of the ninety-seven sales closed this week reported a price that was below the list price by an average on $10,153. Click the image for a larger version of the chart.
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Royal LePage Vidorra