Saskatoon real estate week in review: August 20-26, 2017

Saskatoon real estate week in review: August 20-26, 2017

Saskatoon real estate sales numbers fell lower for the second week in a row as local agents reported just 64 firm residential deals to the MLS®, down from 72 the previous week. Sales softened even more on an annual basis. During the same week last year 92 transactions were completed.

New listings for the period also declined. Just 160 Saskatoon homes were offered for sale on the multiple listing service®, down from 181 last week and matching numbers posted at the close of the same week last year.

Total active MLS® listings slipped lower to 2235, down slightly from the 2253 Saskatoon homes that were available a week earlier. On an annual basis, we are up by 187 homes from a year ago. Today we have 1276 single-family homes for sale, up from 1107 last year. Condo inventory is at 848, considerably higher than the 770 listings that were on the system last year.

Fewer upper-end home sales combined with strong activity at lower price points brought the weekly median price considerably lower this week to $331,700. The average sale price also tumbled lower to $343,108. The six-week average price slipped a few hundred dollars from the week before to $338,047. That’s down just over 20K from a year ago. The four-week median price edged up to $335,000 for an annual loss of just three thousand dollars.

One seller managed to wrap up a deal at $100 above their asking price, while six others found a buyer willing to pay the asking price. The remaining 57 sales were reported to have sold at a discounted price, $11,421 below list on average.

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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