Saskatoon real estate week in review: December 18-24, 2016

Saskatoon real estate week in review: December 18-24, 2016

Saskatoon real estate sales were strong this past week with 46 firm deals being reported to the local multiple listing service®. That’s down five from last week but well ahead of the 26 deals reported over the same period last year. New listings fell lower to 70, down from 116 last week and significantly stronger than the 41 homes that were listed during the same week last year.

The total number of active residential listings in the MLS® database slipped by 42 units from the close of the previous week to 1620. That represents a year-over-year decline of just 26 homes for the smallest drop in months. Today, there are 848 single family homes for sale on the MLS, down from 913 a year ago. Condo inventory sits at 629, up from 568 a year ago.

Fewer entry-level buyers showed up this week, and consequently, both the weekly median price and the weekly average took gains to $340,000 and $331,541 respectively. The six-week average price fell lower to $341,752 for a weekly drop of three thousand dollars and an annual loss of roughly 13K. After five consecutive weekly declines, the four-week median price grew by more than five thousand dollars to $335,622 to finish lower than it was last year by about eight thousand dollars.

Six sellers did manage to get a full price offer. All of those were new homes. The remaining 40 sellers gave up some cash at the negotiated table providing their buyer an average discount of $12,976.

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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