Saskatoon real estate week in review: July 9-15, 2017

Saskatoon real estate week in review: July 9-15, 2017

While Saskatoon real estate sales numbers saw some growth on a week-over-week basis, they slipped lower from a year earlier. Local real estate agents reported 78 sales to the MLS® this week, up from 70 for the previous seven day period and well down from the 93 residential sales recorded for the same week last year.

New listing numbers surged upwards to 228, an increase from 200 last week, and also up by 22 homes compared to the same week last year.

The number of Saskatoon homes offered for sale on the multiple listing service® pushed higher for the second week in a row, raising the question, “have we actually reached our inventory peak for this year.” Yesterday came and went with 2228 residential listings appearing active when it closed, 59 higher than it was a week earlier, and topping last year’s numbers by 159 properties. This year’s peak of 2251, which we reached in mid-June, is the highest number of active listings ever recorded on the Saskatoon MLS® system. Will we go higher yet? The next couple of weeks will tell.

As of this morning, there are 1251 single-family homes for sale, up from 1212 last week and well ahead of the 1107 houses available at this time last year. Condo inventory has reached 815, a gain of 34 from a week earlier, and up 15 from a year ago.

A more even distribution of sales across the various price ranges brought the weekly median price back to $337,750 as the average for the week came in at $353,830. The six-week average price inched higher to $352,018 to record an annual loss of nearly 10K. The four-week median price slipped lower to $325,000 to find itself down by fourteen thousand dollars from a year ago.

One lucky seller received an above list price offer but the bonus was small at $100. On the flip side, 74 of this week’s buyers sealed a deal with an average discount of $11,198. The remaining three sales were reported sold at the asking price.

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 Vidorra

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