Saskatoon real estate sales grew for the fourth consecutive week and reached the highest numbers recorded for any seven day period so far this year. Local agents reported the sale of 79 Saskatoon homes for a weekly increase of 13 units and annual gains of 23.
New residential listings took a dip falling from 164 last week to 150 for this period. Still, that amounts to an increase of 20 listings when compared against the same week last year.
The inventory of Saskatoon homes for sale did not gain much traction this week. As of this morning, there are 1600 residential properties for sale with the city limits, up just four from last week’s close, and down from 1676 a year ago.
Among the properties being offered for sale are 639 condominiums, down from 682 a year ago, and 874 single-family detached homes, 24 fewer than could be found at this time last year.
Both the weekly median price and the weekly average bounced back this week as a greater number of upper end home buyers stepped into the market to make a deal. The former grew by more than 10 percent to $313,700 as the latter increased by close to 20K and reached $320,519.
Still, both of the longer-term measures we track slipped lower. The six-week average price fell for the fourth week in a row. It lost four thousand dollars from a week earlier to settle at $322,246, which is about twenty-two hundred dollars lower than it was at this time last year. Meanwhile, the four-week median price lost about 9K on the week to close the period at $311,850. That’s $5700 lower than it was as the same week last year wrapped up.
On the heels of a week that saw no sales reported above asking price, three lucky sellers completed a sale for more than they had been asking, one with a big bonus that topped ten thousand dollars. The other two sold at $100 above asking. On the flip side of the negotiating table, 66 buyers stood in for a discount and wrapped up their purchase at a price that was, on average, $13,259 below asking.
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