Saskatoon real estate week in review: July 7-13, 2013

Saskatoon real estate sales continued at a pace that matched a typical week in April or May. This week, local agents reported 92 firm house and condominium sales to the multiple listing service®, an increase of nine compared to the previous week, and pretty much on par with the same week last year when 94 homes traded.

New listings picked up just a bit with 165 properties hitting the MLS® system, up six from last week, and again, very similar to last year’s number of 167.

After three consecutive weeks of declines active Saskatoon real estate listings in the residential category of the MLS® system shot higher again and grew by 36 units over the week to reach 1305, roughly 90 units ahead of totals seen a year ago. Today’s active listing searches on the multiple listing service® yield 763 single-family homes and 456 condominiums showing a for sale status. Last year at this time, those two categories of Saskatoon homes sat at 746 and 397 respectively.

Some huge residential sales including two homes that together contributed $2 million dollars to the weekly volume drove the average sale price of a Saskatoon home higher to $352,865. At the same time, the weekly median moved in the other direction because of a pretty good handful of entry level sales, and fell close to $6,000. The six-week average price slipped lower by roughly four thousand dollars to end the week at $346,105 for an annual increase of about 12K. The four-week median price edged higher by two thousand for the week to close $330,000 for a year-over-year increase of fourteen thousand dollars.

Overbid sales slipped big falling from seven last week to just three this week. Those buyers gave up a good chunk of change offering to pay an average of $13,400 above list to buy the house they identified as their future home. Another 18 buyers made a full price offer. The remaining 71 closed deals reported a price that was below the seller’s asking price by an average of $9,990.

Other MLS® activity this week included 53 cancelled and withdrawn listings, 14 expired listings and 58 price adjustments.

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Norm Fisher
Royal LePage Saskatoon Real Estate