Another solid sales week continued to drive December sales in the Saskatoon real estate market, continuing on the momentum that’s been building over this final quarter. At the close of business yesterday, 185 sales were on the books for the month, now 45 units ahead of sales for the entire month last year.
A total of 66 residential sales were processed through the multiple listing service® this week, up 20 units from the previous week, and ahead of sales for the same period last year by 14.
New listing numbers were stronger than I might have guessed they’d be. Saskatoon real estate agents added 70 residential properties to the MLS®, down three from last week, to exceed last year’s number by one.
The inventory of active listings fell to its lowest point for any week since January of 2015. As of this morning, there are 1353 Saskatoon homes offered for sale on the MLS® system, down by 49 from a week earlier, and lower annually by 180 properties for an annual decline of about 12 percent.
There are currently 792 single-family homes for sale in the city, down from 867 at this time last year. Condominium numbers have fallen to 496 from 570 last year for an annual decline of roughly 14 percent.
A strong week of sales for apartments edged the median sale price for the week lower to $323,450 while ten sales that posted prices greater than 500K pushed the weekly average sale price higher to $342,459.
The six-week average price fell for the second week in a row to settle at $322,540. That is the lowest it’s been since early April, and down about twelve thousand dollars annually. The four-week median price took its fourth consecutive decline to end the week at $316,068 for an annual drop of about thirty-five hundred dollars.
One Saskatoon home seller had the good fortune of an above list sale price that paid them a bonus of $2500. Meanwhile, 60 of the week’s 66 sales closed below the seller’s asking price to net those buyers an average discount of $14,918.
Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that those sales that do show a sale price that is greater than the list price are all new properties that spent some period of time on the market, and most likely included additional improvements that were not reflected in the original list 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.
Though the numbers will be small, there will be a report next weekend. No sense messing up a 667-week roll, right?
Thank you for reading TeamFisher’s Saskatoon Real Estate Week in Review. If you do celebrate, my team would like to extend our best wishes to you and your family for a lovely Christmas.
I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-241-6676 or email me at norm at teamfisher.com
Royal LePage Vidorra