Saskatoon real estate agents posted big numbers in both the sales and new listings categories this week. A total of 93 houses and condos saw a sold sign being posted, up seven from last weekfor a year-over-year increase of the same amount.
After showing signs of retreat for the past two weeks, the number of new MLS® listings added to the system over the past week shot higher to break the 200 mark. Totals in the condo/house categories hit 201 for a weekly gain of 40 homes, up on the same period last yearby 37 properties.
The total number of active listings on the Saskatoon MLS® system continued to creep higher as it has during seven of the past eight weeks, this time reaching a new high for the year at 1598. At a time of year when you can almost always count on inventory to fall, total active listings increased by 18 this week to finish higher than they were a year ago by 218. Once again, most of those gains can be credited to a greater availability of single-family detached homes (houses) which saw numbers increase to 1,009 available units, up from 848 a year ago. Condo inventory is also up from last year but only marginally. Those numbers total 446 today, up just 24 units from a year ago.
Fewer high end home sales brought the median price for the week lower by about 23K to $316,000. The average price of a Saskatoon home slipped even more dropping about twenty-two thousand dollars to $338,731. This in spite of the fact that Saskatoon’s highest priced home sale for 2014 ($1.4 million) was included in the mix. There were only six other properties that traded at a price greater than $500,000 this week. Meanwhile, the six-week average price of a Saskatoon home fell six thousand dollars from last week to settle at $354,247 for a year-over-year increase of about eight thousand. The four-week median slipped lower by about seventy-five hundred dollars this week to $335,500 to maintain a very thin annual gain of just five hundred dollars.
Three Saskatoon home sellers bagged themselves an overbid offer with an average bonus of $1,133 and eight others completed a full price sale. The other 82 completed transactions were reported to have sold at a number somewhere below the seller’s asking price by an average of $10,054.
Other notable real estate activity this past week included 75 cancelled and withdrawn listings (69 and six), 24 expired listings and 72 price changes.
Highlights from the news this week
Existing home sales in Canada rise for sixth straight month - Financial Post
Housing sales in July highest since 2010 - Globe and Mail
Real estate scams and how to avoid falling for one- CBC
RBC forecasts house prices will cool in 2015 if rates rise - Canadian Press via Montreal Gazette
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