Saskatoon real estate week in review: February 1-7, 2015

Saskatoon real estate agents reported a total of 57 residential sales to the local multiple listing service® this week, a drop of four from the previous weekfor a year-over-year decline of seven units as annual declines in unit sales persisted for the sixth consecutive week.

Where local agents were’t run off their feet completing sales, new listings filled the gap. A total of 176 residential properties were added to the Saskatoon MLS® system, up 46 from last week to top numbers reported for the same week a year agoby 11.

Total active residential listings took some small gains rising by 22 units from last week’s close to 1,469 to finish up on the same week last year by 289 available Saskatoon homes for sale. At the close of business this week, local home buyers could find 817 single-family homes brandishing a for sale sign, up from 701 a year ago, and 495 condominiums, up from 369 at the same time a year ago.

A bit of a soft spot in sales below the $200,000 mark saw the weekly median and the weekly average take gains as they rose to $338,000 and $367, 199 respectively. The six-week average price took its largest jump this year rising more than seven thousand dollars from last week to reach $358,726 and claim an annual increase of a bit more than thirteen thousand dollars. Meanwhile, the four-week median remained stable on a weekly basis closing at $336,250 for the second week in a row to mark annual gains of about 12K.

Four of this weeks closed transactions were reported to have sold for more than the asking price, paying an average bonus of $12,437 thanks in part to one deal that went $40K over list. It was a new home and likely included extras that hadn’t been contemplated when the list price was selected. On the flip side, 43 buyers negotiated a discount that averages $12,650. The other ten deals were reported to have closed at the asking price.

Other notable real estate activity this past week included 50 cancelled and withdrawn listings (48 and two respectively), 54 expired listings and 35 price changes.

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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