Saskatoon home sales slipped lower for the second week in a row to end a nine-week streak of year-over-year unit sales increases. Local REALTORS® processed 82 firm deals this week, down just seven from the previous period but lower than numbers recorded last year by 31.
New listings took a solid dip falling from 240 last week to 187 for the current week. Those numbers are down 35 units compared to activity reported last year.
The inventory of active Saskatoon real estate listings moved higher and closed the week at 1978 for a weekly increase of 32 and an annual decline of 55 homes. A quick audit of available listings this morning shows 1128 single-family homes for sale, up from 1071 at this time last year. Condo inventory has slipped lower to 720 for an annual decline of 108.
Condo buyers remained active this week while home sales above $500,000 cooled. Those factors combined to cause both the weekly median and the average sale price of a Saskatoon home to fall lower. Those measures came in at $314,200 and $329,421 respectively.
The six-week median price grew almost three thousand dollars this week and reached $336,324 for an annual increase of almost four thousand dollars. The four-week median price fell a couple of hundred dollars from last week and settled at $329,000 for a year-over-year increase of four thousand dollars.
Three Saskatoon home sellers closed a sale for more than their asking price, all three netting a $5100 bonus. Meanwhile, 73 sales were reported to have sold for less than list price with an average discount of $11,712.
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. Reach out by voice or text at 306-241-6676 or email me at norm at teamfisher.com
Royal LePage Vidorra