New listings moved in the same direction with 128 houses and condos being added to the inventory of the Saskatoon MLS® system for a gain of twenty-two properties. For just the second time this year, total new listings came in lower than they did for the same week a year ago when 155 homes were listed for sale.
The total inventory of residential real estate listings continued on its upward trajectory, actually breaking eleven hundred units before a handful of expired listings pushed it back to 1,099 by the close of the week. That represents a gain of two-dozen compared to the close of last week, and nearly two hundred more homes than were available at the same time last year. Today, there are a total of 604 single-family homes and 430 condos displaying an active status. Those numbers are up on a year-over-year basis from 860 and 346 respectively.
Thirty-three MLS® listings were either cancelled or withdrawn this week. Twenty-nine of those immediately returned as a new listing. Another forty-three sellers opted for a simple price change instead.
A slightly higher percentage of deals at the upper end of the value range pushed the weekly median price ahead of last week to $297,000 for a gain of close to thirty thousand dollars. The average selling price of a Saskatoon home moved up roughly fifteen thousand dollars compared to last week to reach $302,243. Still, both of our longer term measures continued to trend lower, both reaching new lows for the year. The six-week average slipped just over a thousand dollars from last week, closing the week at $297,810 roughly ten thousand dollars higher than it was at the same time in 2010. The four-week median slid fifteen hundred dollars on a weekly basis to $285,000 and finished below last year’s level by nearly four thousand dollars.
Overbid activity was as strong as it has been at any time in the last year with roughly ten percent of all completed sales bringing more money than the asking price, by an average of $4,407. Six additional sellers got their price while sixty of seventy-three deals were closed below the asking price by an average of $10,079.
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