Saskatoon real estate sales continued to soften this week as one would expect at this time of the year. Local REALTORS® reported 51 firm residential trades, down four from the week before but up by 13 when compared to sales for the same period last year.
Meanwhile, listing activity remained steady as 105 Saskatoon homes were offered for sale on the multiple listings service®. That matches last week’s numbers and amounts to an annual gain of just one listing.
.jpg "Saskatoon residential MLS sales and and new listings for the week of November 9-15, 2019")
The number of Saskatoon homes available to buyers on the MLS® system slipped lower and fell below 1600 units for the first time since the last week of March. A total of 1596 homes are showing an active status in this broad category this morning. A closer look at housing types shows 979 detached houses, the same number that was available a year ago. Condo inventory sits at 539, sharply lower than the 643 recorded a year ago.
.jpg "Active Saskatoon real estate listing on the MLS at November 15, 2019")
Sales below $200,000 fell lower this week which boosted both the weekly median price and the weekly average price of a Saskatoon home to $365,000 and $351,831 respectively.
The six-week average price was largely unchanged from a week ago at $325,918. This week, it’s lower than it was last year at this time by about nine thousand dollars. The four-week median price moved higher to $320,000 to finish the week lower than it was a year ago by $12,500.
.jpg "Average and median prices for Saskatoon homes sold November 9-15, 2019")
For the third week in a row, there were no overbid sales reported and just a small handful of trades that occurred at the seller’s asking price. Buyers came away from the negotiating table and closed their purchase at a discounted price in 46 of the week’s 51 sales. The average discount was $12,822.
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
Norm Fisher
Royal LePage Vidorra
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