Saskatoon real estate week in review: August 27 - September 2, 2017

Saskatoon real estate week in review: August 27 - September 2, 2017

The Saskatoon real estate market closed the week with 77 firm residential deals, up 13 from the previous week and down five when compared against the same period last year. The number of new listings that were added to the multiple listing service® slipped lower for the fourth consecutive week as just 127 Saskatoon homes were added, down from 160 a week earlier. Looking back to the same period last year, there were 207 residential listings added to the MLS®.

The number of Saskatoon homes available for purchase through the MLS® took its largest single week drop this year as a hefty number of month end expired listings drove numbers down to 2112, a drop of 123 properties from last week. That’s still well ahead of last year’s numbers when just 1,986 properties were for sale. Today’s totals include 1212 single-family homes, up from 1090 a year ago, and 795 condominium units, up from 726 at this time last year.

Both the weekly average sale price and the weekly median slipped about 10K from last week to $331,556 and $323,400 respectively. The six-week average fell roughly six thousand dollars from last week to $337,708 which is done about twenty thousand dollars on an annual basis. The four-week median slipped from $335,000 last week to $322,000 by the close of business on Friday, that number also down from the same week last year by 13K.

Like the previous week, just one seller managed to wrap up a deal with a modest overbid of $100. Six others received and accepted a full price offer. On the flip side of the negotiating table, 70 sellers agreed to a sale at less than their asking price. The buyers involved in those deals netted an average discount of $11,701.00.

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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