Following three weeks of growth to the total number of active MLS® listings, inventory took a small dip to 2033, a drop of 26, to close the week up on levels recorded at this time last year when there were 1553 Saskatoon homes available in the MLS® database. Single-family homes inventory slipped lower this week to 1168 units, but finished well up from 984 at this time last year. Condo inventory fell by about 25 units over the past seven days bringing our total to 663, about 220 ahead of levels recorded a year ago.
The weekly median price remained stable at $335,000 an indication that the levels of activity at both the upper end of the market, and the lower end remained constant. By every other measure that we track, prices slipped lower this week. The average sale price of a Saskatoon home fell to just $329,019 and reached its lowest point since early April. The six-week average price slid about seven thousand dollars to settle at $350,194 reaching a low not seen since early May. It closes the week down from where it sat a year ago, again by about seven thousand. Finally, the four-week median price declined by more than four thousand dollars compared to last week. It comes in at $344,500 which amounts to an annual increase of roughly seven thousand dollars.
Four sellers reported a deal for more than the asking price, and another four got all that they were asking for. Meanwhile 77 deals closed with a discount averaging $9,728.
Other notable real estate activity this past week included 101 cancelled and withdrawn listings (96 and five respectively), 121 expired listings and 80 price changes.
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