It’s another amazing Saskatchewan fall weekend. To all who celebrate, Happy Thanksgiving to you from all of us at TeamFisher and Royal LePage Vidorra.
I’m very thankful for your appearance here!
Saskatoon home sales slipped lower for the second week in a row as local real estate agents reported 89 firm residential trades to the multiple listings service®. That number is lower than last week by nine deals but higher than sales recorded for the same week last year by seven. That is the 18th consecutive week in which sales were equal to or greater than those recorded for the same period last year. It has been quite a four-month run.
New listing numbers fell to their lowest level in ten weeks. A total of 152 Saskatoon homes were listed for sale over the past week. That is well down from 183 last week, but up when compared against numbers recorded over the same week last year when 148 residential properties were offered for sale.
The number of homes showing an active status on the MLS® slipped by just one this week to 1483, our lowest number since the end of July. Today’s inventory includes 817 single-family homes, down from 1086 at this time last year, and 586 condos, down just three units from a year ago.
Sales over the past 30 days slipped by just one to 433. That kept our “months of inventory” stable at 3.4, still a very frustrating market for home buyers looking in the more popular price ranges.
The distribution of sales between the upper and lower end of the market remained stable and the median sale price for the week fell just $500 to $342,000. The weekly average price moved higher by about 10K, thanks in part to a single sale at $2.85 million.
The four-week median price pushed marginally higher to set another annual record at $345,000. That’s up just $300 from last week, and higher annually by about twenty-one thousand dollars. The six-week average price also grew by $1400 this week to reach $355,619. It claimed a year-over-year increase of 20K.
Overbid activity fell from seven last week to just four but the average bonus paid to these lucky sellers was solid at $3,850. Meanwhile, 75 of this week’s deals closed below the seller’s asking price and netted those buyers an average discount of $12,295.
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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