Saskatoon real estate sales activity showed gains for a third consecutive week as local agents reported one hundred and three firm single-family home and condominium sales to the multiple listing service. That number represents a gain of nine units over the previous week
, and thirteen more sales than were recorded for the same week last year
. New listings softened and fell to just one hundred and eight for a drop of eighteen units compared to the previous week, and down seven from the one hundred and fifteen Saskatoon homes that were offered for sale on the MLS during the same period of time in 2010. Click the image for a larger version of the graph.
The inventory of active Saskatoon MLS listings in the residential category fell back this week dropping twenty-one units from the close of the previous week to 1410 properties, thirty-six more than could be found on the system at the same time last year. Today’s inventory shows 801 single-family homes and 518 condos, both down from last week when we had 819 and 524 respectively. At this time last year, there were 810 single-family homes and just 484 condominiums showing an active status on the Saskatoon multiple listing service. While there’s nothing alarming about today’s inventory levels, we are still about two hundred units above the five-year average. On the other hand, strong units sales are keeping the current level of listed Saskatoon homes manageable and within balanced territory with roughly three and one half months of housing supply. Click the image for a larger version of the graph.
This week saw forty-nine cancelled and withdrawn MLS listings. Thirty of those made another appearance on the system as a “new listing” the same day that they came off, most offered up at a lower price. Another sixty-eight home sellers took the more direct route and adjusted their asking price on their existing listing. The median sale price of a Saskatoon home took an upward bounce and climbed just over eight thousand dollars to $297K this week. The average selling price followed along and showed a gain of just a bit more than eight thousand, closing the week at $308,017. The six-week average price continued to fall for the seventh consecutive week, dropping by just over a thousand dollars from last week to $309,853 while maintaining year-over-year gains of just over fourteen thousand dollars. The four-week average slipped $750 dollars on the week to $298,750 and held nearly nineteen thousand dollars in gains compared to the numbers we posted a just a year ago. Click the image for a larger version of the graph.
Ninety of one hundred and three sales reported a sale price that was less than the asking price by an average of $9,782. Seven deals closed at the full asking price. Just six sellers managed to create a bidding war finding a buyer willing to pay more than their asking price by an average of $7,173. Click the image for a larger version of the chart.
I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here
. Please feel free to call or email. Norm Fisher Royal LePage Saskatoon Real Estate