Saskatoon real estate agents reported 63 firm residential sales to the multiple listing service® over the past week, five more than the previous week, to finish ahead of the same period last year by 13.
The number of new residential listings added to the MLS® remained steady towards the mid-160’s for the third consecutive week. The total number of Saskatoon homes listed came in at 164 this period, up two from the previous week, and ahead of the number listed over the same week last year by 12. This is the third week in a row in which listings finished higher on an annual basis. Three weeks does not amount to a trend, but this hasn’t happened since the third quarter of 2017, so it might be an interesting number to watch.
MLS® inventory moved higher as it grew by 42 units to reach 1596, down 83 homes from numbers recorded at this time in 2018, and still lower than it has been at the close of this particular week in four years time.
Saskatoon home buyers can find 881 single-family homes on the MLS® system today, down just a bit from 900 a year ago. Condominium inventory has fallen further to 625, lower by 65 units (or 10-ish percent) from the close of the same week last year.
A very active entry level market and some weakness at the upper end ushered the median sale price of a Saskatoon home lower this week to $287,500. The weekly average price moved the same way as it slipped nearly 17K to $301,529.
The six-week average price inched lower for the third consecutive week. It slipped a little under four thousand dollars to close the week at $326,342. That’s up about $2600 from where it stood a year ago, and the third consecutive week in which the measure took annual gains. The four-week median price fell lower for the third week in a row after it spiked higher through February. It slipped nearly 5K this week to settle at $320,000 to record an annual increase of $10,000.
After recording some competitive buyer activity the previous week, over list price sales left the chart entirely. In fact, 61 of 63 home sellers gave up some dollars to make a deal with their buyer. Those sales recorded an average discount of $12,916.
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.
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