Sales and listing activity were both brisk for the Saskatoon real estate market this week. Local agents reported 56 firm residential deals to the multiple listing service®, well up from 39 last week, and enough to finish ahead of the same week last year by three. New listings slipped lower from 167 Saskatoon homes last week to 143 for this week, 13 fewer homes than were added to the MLS® during the same period a year earlier.
For the second week in a row, the total number of Saskatoon homes for sale on the MLS® was up year-over-year. Not by much, but up. Total active listings in the residential category sit at 1627 this morning, for a gain of nine compared to last week’s close, and up just three from the count at the close of the same week a year ago. The number of single-family homes for sale in the city is actually down annually from 884 to 856. The selection of condos, on the other hand, is up from 585 a year ago to 627 today.
Four pretty big transactions including the first residential sale in 2017 to top one-million dollars added nearly $3.5 million to the total dollar volume of sales and pushed the average price for the week up close to ten thousand dollars as it reached $343,853. Still, the weekly median price moved in the opposite direction as buyers who favoured the lower end of the Saskatoon real estate market were most active. That measure came in at just $314,500. Meanwhile, the longer-term measures both made gains as the six-week average price of a Saskatoon home took a solid jump to $340,590 but closed the week down on a year-over-year basis by thirteen thousand dollars. The four-week median price edged up to $337,386 to find itself short of last year’s number by just six hundred bucks.
While six sellers did close a deal at their asking price, just one found a buyer willing to pay more. That sale went down in area four and netted the seller a bonus of two thousand dollars. Over the week, 49 buyers managed to grind their seller to pick up an average discount of $16,045. The number was seriously skewed by two sales, both at the upper end of market prices for the week and both selling 100K below the asking price. Spread across the 49 deals, those two huge discounts are driving the average up by nearly $4,100.00.
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Royal LePage Vidorra