Saskatoon home sales and listing activity both grew on an annual basis this week.
Local real estate agents reported 75 firm residential trades to the MLS® this week, up ten from the previous week for an annual increase of three sales.
New listing activity was unusually strong for this time of year, spiking higher for the second consecutive week. A total of 185 properties were added to the multiple listing service®, down seven from last week for a year-over-year increase of 17.
The inventory of Saskatoon homes for sale grew for the second week and cracked the 1900 mark again. Today, there are 1912 active residential listings in our MLS®, up 14 from last week’s close, but down from 1961 a year ago. Single-family homes inventory is at 1168 today, well up from 1086 a year ago. Condo listings fell lower to 647 for an annual decline of 106 units.
The weekly median sale price moved slightly higher this week to $319,000 while the average sale price moved modestly lower to $344,756.
The six-week average pushed higher to $330,621 and recorded a year-over-year increase for the first time in six weeks. That measure is up nearly 5K from a year earlier. Meanwhile, the four-week median price held steady at $315,000 for the second week in a row for an annual increase of close to three thousand dollars.
Two sellers closed a deal receiving an offer of $100 more than their asking price. Buyers won at the negotiating table as 69 deals closed below list price with an average discount of $15,714. That number was significantly skewed by the Nutana sale that closed at nearly $300,000 below the asking price.
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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