For the fourth consecutive week, Saskatoon real estate sales fell short of meeting numbers generated during the same week last year. Local agents reported just 48 firm deals to the Saskatoon MLS® this week, down from 56 last week, to finish below numbers recorded during the same week last year by two dozen. A look back at the holiday calendar confirms that Saskatchewan’s “Family Day” fell within the same week in 2015, so we can’t use the short work week as an excuse.
The number of new residential real estate listings added to the Saskatoon multiple listing service® also fell lower on both a weekly basis, and year-over-year. A total of 130 Saskatoon homes hit the MLS® system this week, down from 186 a week ago, and 20 off of last year’s totals.
The number of homes available in the inventory of MLS® listings moved higher and reached 1715 by this morning. That’s up 31 from a week ago, and ahead of levels recorded on this date last year by 201 properties. Today’s totals show 911 singe-family homes displaying an active status. That’s up from 824 a year ago. Condominium inventory started the day at 647, an increase of 129 units from where we sat a year ago.
With just one sale recorded above $500,000 and three falling below $100,000 both the weekly median and the weekly average sale price tumbled to $323,500 and $323,957 respectively. The longer term measures followed along, both falling pretty significantly for a one week period. The six-week average moved nearly 12K to finish the week at $341,859 down almost eighteen thousand dollars from the same week last year. Meanwhile, the four-week median fell four thousand dollars to settle at $323,500 for an annual loss on $11,500.
Sellers didn’t find a whole lot of love this week. Not a single buyer offered to pay more than list, in spite of the known bidding activity that I reported in last week’s post. There were five buyers who stepped up and made a full price offer, while the remaining 43 insisted on a deal negotiating an average discount of $14,830.
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.
Royal LePage Vidorra