After showing strong growth for three consecutive weeks, Saskatoon real estate sales leveled off. Local agents reported 97 firm residential trades to the multiple listing service®, down just two from the previous week, and up by eight when compared to sales for the same week last year.
New listing activity continued to grow and that resulted in the highest volume listing week this year as agents added 209 Saskatoon homes to the MLS® system. That number is up 51 units on a weekly basis, and down by 31 annually.
Active MLS® listings slipped lower by five this week to settle at 1532, down from 1946 a year ago.
Today, Saskatoon home buyers can find 879 single-family homes for sale, down from 1155 a year ago. There are also 577 condominium units available, down from 718 at this time last year.
The split between middle to upper-end homes and entry-level properties remained pretty consistent compared to the previous week. The weekly median price grew by just three thousand dollars to $327,900 while the weekly average sale price of a Saskatoon home slipped considerably to $331,921 due to fewer deals above $500,000.
The six-week average price moved just a couple of hundred dollars lower to $348,677. It’s up about 15K from the close of the same week last year. The four-week median price fell for the second consecutive week to settle at $329,990. That’s down seven thousand dollars from the previous week, but higher than it was a year ago by a few hundred dollars.
There was a little overbid activity with one seller seeing an offer for $4900 more than they’d asked, and two others picking up a $100 bonus. On the flip side of the negotiating table, 84 buyers managed to negotiate a discount averaging $12,648.
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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