Saskatoon real estate week in review for October 6-12, 2013

Saskatoon real estate week in review for October 6-12, 2013

Coming off of the strongest sales week in a month market activity slipped lower as Saskatoon real estate agents reported 82 sales of single-family homes and condominiums to the multiple listing service®. That number is down just five from last week but ahead of sales recorded during the same week last year by four.

Last week, local agents brought the largest number of new residential listingsto the MLS® system since the week of June 15. This week, new listings slid lower from 198 to 185 to finish well ahead of listing numbers from the same week a year ago by a whopping 70 Saskatoon homes.

The total number of Saskatoon homes listed for sale on the multiple listing service® rose again and broke the 1400 mark for the first time in more than two years. At the close of the week, home buyers had 1401 homes to choose from, up 12 from last week and well ahead of the 1199 homes that could be found at this time last year. The largest gains continue to be recorded in the single-family home category which closed the week with 888 properties available top buyers, growing from 729 a year ago. Today there are 414 condos offered for sale, down just slightly from numbers recorded at this time last year by just four.

On the heels of a week that saw average prices reach their highest levels since late July, the average price of a Saskatoon home slipped lower to $347,875 while the median stayed fairly stable at $340,000. The six-week average moved lower by about 800 dollars this week to finish about fifteen thousand dollars higher than it was a year ago. The four-week median price didn’t budge. It held steady from the previous week at $330,000 and also finished up on the numbers from last year by fifteen thousand dollars.

This week, 66 of 82 sales closed below the seller’s asking price. THose buyers netted a discount averaging $11,121. Another 14 buyers agreed to pay the seller’s full asking price while two stepped up and offered an above list price paying an average of $1150 ,more than their seller had asked.

Other notable MLS® activity this week included 77 cancelled and withdrawn listings,  15 expired listings and 73\ price adjustments. 

Highlights from the news this week

Riversdale home prices crack $200K mark - Star Phoenix
City house prices continue upward climb - Star Phoenix
New home prices edge up 0.1% in August - Globe and Mail
Housing starts beat forecast and continue to surprise - Globe and Mail

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I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Norm Fisher
Royal LePage Saskatoon Real Estate

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