On the heels of one the quietest sales week since early April home sales bounced back as Saskatoon real estate agents reported a total of 94 single-family homes and condominiums firmly sold to the multiple listing service® this week. That number trumps the previous week’s sales by 20 units and is up over the same week last year by three.
At the same time,new Saskatoon real estate listings retreated and fell to just 106 homes, down from 144 the week before to close higher on a year-over-year basis. The same period of time during the previous year saw 92 new listings added to the MLS® system.
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The total number of active MLS® listings in the residential category dipped lower and edged closer to the 1200 mark than it has been for seven weeks. A search of the multiple listing service® this morning shows 1212 Saskatoon real estate listings, 26 fewer than were available at the same time last week. Total MLS® inventory is down roughly ten percent from the same point in 2011 when 1350 Saskatoon homes were available to Saskatoon home buyers. Today’s inventory consists of 747 single-family homes and 400 condos. A year ago, those categories were showing 806 and 470 respectively.
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The median price of a Saskatoon home inched slightly lower this week, slipping nearly two thousand dollars to $320,732. The average selling price remained high, and in fact, grew by more than seven thousand dollars to $349,960 thanks in part to a half dozen sales above the $600,000 mark, including one that approached the one-million-dollar mark and another that exceeded it. For those of you keeping score, that brings the total number of Saskatoon homes that have sold for more than one million dollars to nine this year, with four full months remaining in the year. The previous annual record was six such homes. In spite of lofty prices for the week both of our longer-term measures managed to slip marginally lower on a weekly basis. The six-week average price dropped just a few hundred dollars to $337,664 and maintained annual growth of roughly 27K. The four-week median price of a Saskatoon home slid about $650 from last week to close at $325,450 and claimed a year-over-year increase of nearly $29,000.
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Home sales exceeding the listed price remained low at just two. Those lucky sellers saw an additional $11,325 added to their bottom line. Meanwhile, 72 Saskatoon home sellers took a seat at the negotiating table and agreed to an average discount of $11,974 to close up a deal. Another 20 sellers accepted a full price offer.
Other notable MLS® activity this week includes 34 canceled and withdrawn listings, 17 expired listings and 38 price adjustments.
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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
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