Saskatoon home sales moved higher for the second week in a row, this time breaking back into the 50’s. Local agents reported 51 firm deals to the multiple listing service®, up from 44 last week but well down from the 93 sales recorded during the same week of 2019.
The new listing activity also grew as 112 Saskatoon home sellers offered their homes for sale on the MLS®. That’s higher than the previous week by 11 units, but down annually from 134.
This is highly anecdotal, but I get the sense that both buyers and sellers are feeling a bit warmer to be present in the spring market. The weeks ahead will tell the tale.
The total number of residential Saskatoon real estate listings showing an active status on the MLS® grew to 1432. That’s 14 more homes than were available a week ago, but well below the 1739 properties available at this time last year.
Today’s totals include 828 single-family homes, down from 987 a year ago. There are also 527 condos, down from 691 at this time last year.
Both the weekly median sale price and the weekly average took some gains this week but remained on the low side. The median was $322,000 and the average was $316,838.
The six-week average price fell lower to $348,727. That’s about six thousand dollars lower than it was a week ago, but nearly 15K higher than it was at this time last year. That annual spike is largely due to a couple of very high priced sales being added to the mix.
The four-week median price held steady at $320,000 to finish lower on an annual basis by a little more than 13K.
There were no overbid sales this week, aside from a handful of new home deals that likely included added value not reflected in the original asking price. Meanwhile, average discounts remained on the high side at $15,457.
Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that this chart may show over list price sales, even when I have reported the number as 0. Those sales are typically new properties that spent some period of time on the market, and most likely sold and included additional improvements that were not reflected in the original list price. For example, a new home listed at $450,000 sells at a price of $490,000 after 120 days on the market may have included a basement development that was not anticipated in the listing price. We report these to you as “at list price sales”, which is likely too generous in some cases, but it’s simply not practical to obtain the full details of each sale.
More weekly stats and numbers for those who love them.
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