Saskatoon real estate sales improved modestly after falling sharply lower last week. Local agents reported 66 firm residential trades, for a weekly increase of 14 property sales and an annual increase of two.
The new listing activity also grew as 126 Saskatoon homes were added to the multiple listing service®, 17 more than hit the system last week, and up by eight compared against activity recorded for the same week last year.
The inventory of Saskatoon homes listed for sale on the MLS® edged lower to 1726 and reached its lowest point since late April. That amounts to a drop of 30 listings from last week’s close and leaves us down 87 units from the total count a year ago.
A closer look at the major categories shows 1065 Saskatoon housed for sale, down 18 from last week and up 61 annually. Condo inventory slipped just six this week to settle at 580 for a year-over-year decline of 115 units, or roughly 16 percent.
It was another week of strong activity at the market’s entry-level. For the third consecutive week, the weekly median price of a Saskatoon home edged lower, this week to $283,500. High-end sales continued to slump leaving the weekly average sale price well down from typical levels as it dipped to $314,344.
The six-week average price fell lower again, this time to $325,948 and recorded a weekly decline of about 5K while managing to finish twenty-five hundred dollars higher than it was at the close of the same week last year. The four-week median price headed for higher ground to grow by close to six thousand dollars over the previous week and reach $315,987. That’s pretty much exactly where it stood a year ago.
Three sellers found an enthusiastic buyer who was motivated to shut out some competitive offers. Those deals closed above the asking price by an average of $3,833 with the lion’s share of the bonus being paid to one seller who got $11,100 more than they had asked. On the other hand, 54 of the week’s 66 deals wrapped up with a price below the listed price. Those buyers saw an average discount of $12,153.
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