Saskatoon real estate agents reported 110 firm residential sales to the multiple listing service® this week. That’s an increase of six from last week’s numbers and well up from the same week last year when 80 properties were marked sold.
New listing activity fell sharply to 161, down 35 from last week and up by a dozen when compared to the same period last year.
The total number of MLS® listings in the residential category slipped modestly lower, falling 11 from the previous week’s close to 1525. At this time last year, there were 1852 Saskatoon homes for sale on the MLS®.
Today’s total includes 854 detached single-family homes, down from a year ago by 291. There are also 591 condo properties, down 63 units from a year ago.
Let’s take a look at our sales to listing ratio.
Sales for the previous 30 days slipped to 451, a drop of just seven from last week. With 1525 active MLS® listings, that gives us a “months of supply” measure of 3.38 which is slightly up from last week.
More activity at the upper end of the Saskatoon real estate market pushed the weekly average price and the weekly median price higher to $377,200 and $361,400 respectively.
The four-week median price broke new ground to reach an annual high of $343,000. That’s up just over $3,000 from last week, and $18,000 higher than it was at this time last year. The six-week average price grew to $355,019 to finish up by roughly $4,600 from last week. That amounts to an annual increase of $22,000.
The number of sellers who received an offer above their asking price spiked higher to 11 this week. Those sellers saw an average bonus of $2,791 which was skewed significantly by one $15,000 overbid. Meanwhile, 85 of the week’s 110 sales closed for less than the seller’s asking price to net those buyers an average discount of $14,319.
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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