Saskatoon real estate sales remained strong this week as local REALTORS® reported 80 firm residential trades to the multiple listing service® matching last week’s production. That was enough to finish ahead of the same week last year by three sales.
New listing activity fell lower for the fourth consecutive week which is pretty typical for the season. A total of 145 Saskatoon homes were offered up for sale, down from 149 last week and way below the 171 properties that were added to the MLS® over the same period of 2018.
MLS® inventory saw its largest single-week decline as it fell from 1892 at last week’s close to 1793 today, thanks, at least in part to a large number of listings that expired as September closed.
There are now 1083 single-family homes showing an active status on the MLS®. That’s up from 1057 at the close of the same week last year. There are now just 610 Saskatoon condos for sale, down from 725 at this time last year.
The average sale price of a Saskatoon home was $341,276 which is almost unchanged from last week. A few more entry-level buyers showed up this week to bring the median sale price for the week lower by 15K to $320,000.
The six-week average price edged higher to $339,302 to finish up about six thousand dollars from last week, and about nineteen thousand dollars higher than it was a year ago. The four-week median price was also up, now for the sixth consecutive week. By the close of business yesterday, it reached $327,000 for a weekly increase of two thousand dollars and an annual gain of just under 10K.
This week’s sales include two above list price contracts. One seller received a big bonus of $16,000 while the other took the extra hundred dollars being offered to close the deal. Meanwhile, 73 of the week’s 80 sales closed at a price that was less than the seller’s list price. Those buyers netted an average discount of $14,244.
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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