As we enter the final weeks of the year, activity starts to slow as it always does, and the numbers begin to get close to meaningless because the sample size is so small. That said, this was one of the rare weeks where we found ourselves with higher sales when compared against the same week last year so we’ll celebrate that. I will, anyway.
Saskatoon real estate agents reported a total of 54 firm residential deals to the local multiple listing service®, down from 62 the previous week, but up from 41 on a year-over-year basis. New listings, one the other hand spiked higher growing by 20 units compared to last week, reaching 127 homes for an annual increase of 50 listings.
On the heels of a week that saw the largest reduction to the active inventory of MLS® listings this year, that decline slowed to just 20 units this week. As of this morning, the Saskatoon MLS® system shows 1739 active residential listings, up from 1351 at the close of the same week in 2014. There are currently 948 single-family homes in the “active” category, down from 961 last week, and ahead of the 799 homes available at this time last year. Condo levels sit at 604, a bit up from the 596 reported as active last week, and well up from 406 a year ago.
Lower end real estate sales increased in numbers this week and ushered the median sale price of a Saskatoon home slightly lower to $351,125 while some big numbers at the upper end pushed the average sale price sharply higher to $383,706. Both longer term measures took an upward path as the six-week average price grew by a bit more than five thousand dollars from last week reaching $361,965, its highest level since July. This would be the first week that the six-week average has shown an annual increase since the first week of August. It’s up on the same week last year by just a few hundred dollars. The four-week median price grew by nearly 5K compared to last week’s close . It finishes the week at $349,900 to find itself even on an annual basis.
Two of this week’s 54 sales were reported to have sold at a price greater than the list price, each by just $100. Another four sales closed at the full asking price. Buyers won at the negotiating table in the other 48 closed deals and those discounts average $13,048 off of the asking price.
Other notable real estate activity this past week included 57 cancelled and withdrawn listings (53 and four respectively), 46 expired listings and 43 price changes.
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Royal LePage Vidorra