For the sixth consecutive week, the number of Saskatoon real estate sales that were completed exceeded those recorded for the same period last year. Local agents processed at total of 84 Saskatoon home sales, down eight from last week, but up 13 when compared to sales over the same period last year.
New listing activity fell lower on a weekly basis but grew a bit annually. This week’s total came in at 148, three more than were listed during the same week of 2017, but down 28 homes compared to last week.
The total number of Saskatoon homes for sale on the multiple listing service® fell lower to 2049 by this morning, for a weekly drop of 21 and an annual decline of 161 listings. The number of single-family homes for sale in Saskatoon slipped lower to 1117, down just seven from last week’s close, and down from 1259 a year ago. Condo listings fell a bit more as they declined from 821 at last week’s close to just 805 today. At the close of the same week last year there were 855 Saskatoon condominiums for sale of the MLS®.
While there was no shortage of high end homes trading this week, strong activity in price ranges below $200,000 ushered the median sale price of a Saskatoon home down by nearly 20K to $321,500. The average price for the week was $335,851 which was lower than the previous week by around four thousand dollars. The four-week median price held steady at last week’s number, $325,000 to claim a rare annual gain of $100. The six-week average price grew by two thousand dollars from a week earlier to reach $335,851 losing just over 10K on an annual basis. These are the smallest annual price changes we’ve recorded in months.
Three lucky sellers found some love in an over list price offer. One of those overbids was good for a $20,000 bonus skewing the average to $8400. Meanwhile, 75 sellers had to give up some green at the negotiating table. They settled for a price that was, on average, $14,699 below their asking price.
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.
Thank-you for reading TeamFisher’s Saskatoon Real Estate Week in Review.
I’m always happy to answer your Saskatoon real estate questions. Please feel free to call or text me at 306-241-6676 or reach me by email at norm at teamfisher dot com.
Royal LePage Vidorra