Keeping in mind that this week’s firm sales were negotiated the week before (or earlier) Saskatoon home sales remained stable over the final week leading up to Christmas. Local agents reported 67 firm residential trades, even with last week, and up by 14 when compared against sales for the same week last year.
The new listing activity was predictably soft as just 47 Saskatoon homes were added to the MLS® for a weekly drop of 50 and an annual gain of eight.
The number of residential properties available to Saskatoon home buyers fell, now for the 14th consecutive week to reach its lowest point since early December of 2012.
Saskatoon home buyers can find 890 active listings in the residential category today, which is lower than last week’s close by 51, and down further from a year ago when 1038 listings showed an active status on the multiple listing service®.
Single-family homes inventory is at 393 today, down 29 from last week and lower annually by 78. Condo numbers are now at 432. That’s lower than last week by 17. A year ago, there were 503 Saskatoon condos for sale.
30-day sales continued to fall, as expected, dropping sharply from 354 last week to 321. Here’s what “months of inventory” look like today.
All residential - 890 active listings / 321 sales = 2.8 month supply (up 0.1 months from last week and the third consecutive move in that direction)
Single-family homes - 393 listings / 219 sales = 1.8 month supply (up 0.1 months from last year, and the first improvement in several weeks).
Condos - 432 listings / 88 sales = a 4.9 month supply. (the same as last week).
With 15 sales reported above the half-million dollar mark, the median sale price of a Saskatoon home grew to $365,000 this week. The average price for the period followed and reached $384,798.
Both of the longer-term measures that we track slipped lower this week. The six-week average price dropped just under $1,700 from last week to $377,901, up close to 41K from the same week last year. The four-week median price took a larger weekly dip as it slipped lower by $6,300 to settle at $351,450 to take a year-over-year gain of $18,450.
There were ten sales reported to the MLS® where the sale price exceeded the seller’s asking price. The largest overbid was $35,100 and the average was $9,230. Meanwhile, 47 of this week’s sales closed below the list price by an average of $15,411.
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.
For those of you when celebrate the holidays in one way or another, I wish you and yours peace and joy as you do.
Thanks again for reading.
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