Saskatoon real estate agents reported 59 firm residential sales to the multiple listing service® over the past week, up by six from the previous week and matching numbers recorded over the same period last year.
While sales remained stable, new listings numbers plummeted. Just 73 Saskatoon homes were offered for sale. That’s down from 125 last week and falls short of listings for the same period last year by 32 properties.
The inventory of active MLS® listings in the residential category declined this week, due to soft new listing activity. As of this morning, buyers have just 1367 Saskatoon homes to choose from, down 15 from last week’s close, and 49 shy of what was available a year ago.
The active listing numbers include 792 single-family detached homes, up from 770 a year ago, and 501 condominiums. That's 66 fewer condos than were available a year ago today.
With just three sales that topped the five hundred thousand dollar mark, strong activity at the low end of the price spectrum, and two sales (mobile homes with no land title) that barely amounted to 50K between them, both the weekly median sale price and the weekly average sale price of a Saskatoon home fell lower. Those measures came in at $300,000 and $314,449 respectively.
The four-week median price also slipped as it fell to $320,375 for a weekly decline of about 12K. It remained higher on an annual basis by a little more than $10,000. The six-week average price rose about three thousand dollars from the previous week and after maintaining year-over-year gains for six consecutive weeks, it fell below levels recorded at the close of the same week last year by three thousand bucks.
Not a single seller landed a buyer willing to pay more than the asking price this week. Meanwhile, 54 of the week’s 59 firm deals were reported to have sold at a price below the list price, netting those buyers an average discount of $12,565.
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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