Saskatoon real estate week in review: December 4-10, 2016

The number of Saskatoon homes that traded hands over the past week fell 14 from the previous week to 54 units, just enough to match sales for the same period last year. Meanwhile, the number of new listings added to the multiple listing service® slipped lower, just as we would expect, given the season. Saskatoon real estate agents brought 117 new listings to the MLS®, down ten from last week, and almost 30 fewer than were added during the same week last year.

The inventory of active MLS® listings in the residential category inched lower to 1687, down from 1706 a week earlier, and not far below last year’s levels when the system displayed 1739 Saskatoon homes to prospective buyers. There are 899 single-family homes for sale today, down from 915 last week, and 948 a year ago. Condo inventory slipped just two from a week earlier to settle at 638, up 34 units from a year earlier.

The split between upper and lower end activity was unchanged from the week before. Consequently, the weekly median price remained unchanged at $327,500. Some slightly larger sale price in the top 50 percent of sales did push the average price for the period higher by 10K as it closed the week at $348,917. For the third consecutive week, the six-week average price made modest gains as it grew to $344,973 and finished roughly seventeen thousand dollars lower than it was at the close of the same week last year. The four-week median continued to move in a downward direction for the third week in a row as it slipped two thousand dollars to $335,000 to find itself down fifteen thousand dollars annually.

Five sellers managed to close a full-price deal this week, and one got so lucky as to find a buyer who paid more than the asking price by close to 10K. The remaining 48 sales were reported to have sold at a price below the list price netting those buyers an average discount of $13,489.

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