Once again, new listings recorded strong numbers at one hundred and twenty-three homes, a gain of thirty-six compared to the week before and thirty-seven more than were listed during the same week of 2008.
Total active residential listings moved higher again for the third consecutive week and reached 751 properties, up fifty-six units from the week before, but sharply lower than the 1,192 Saskatoon homes available at the same time last year. This morning, there are 416 single-family homes and 290 condominiums offered for sale on the Saskatoon MLS® system. Those numbers are down from 710 and 406 respectively compared to the same time in 2009.
Sixteen MLS® listings were cancelled or withdrawn from the multiple listing service this week. Nine of those homes quickly re-appeared disguised as a new listing. An additional twenty home sellers adjusted their asking price, all but a few moving lower.
After sliding lower for three consecutive weeks, the return of some upper end buyers moved the average selling price of a Saskatoon home higher to $269,289, nearly twenty thousand dollars higher than it was last week and twelve hundred dollars more than it was during this same week in 2009. The six-week average continued to slide lower and reached $276,660, lower than last week by roughly seven thousand dollars, but ahead of the number recorded during the same week last year by about twenty-six hundred dollars. The four-week median sale price edged forward reaching $257,000, up four-thousand dollars from last week and lower than it was during the same period in 2009 by five thousand dollars.
Click the image for a larger version of the graph.
The average underbid fell back to $7,341, down from $8,997 last week, for an average discount of 2.4 percent of the asking price, a full percentage point lower than it was last week when Saskatoon home buyers managed an average discount of 3.4 percent.
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