Saskatoon real estate agents processed 108 firm residential sales through the multiple listing service® this week, well up from the 87 sales reported last week, but falling just short of numbers achieved during the same week last year when 112 deals were wrapped up. It was another big week for new residential listings. Local agents added 249 units to the MLS® database for a weekly decline of 20 homes and an annual drop of eight.
That “peak” I mentioned a couple of weeks back continued to allude us as the total number of active MLS® listings available to Saskatoon home buyers pushed higher again reaching 2,071 by the close of business Friday. That was enough for a weekly increase of 36 homes, up from 1,573 at this time last year. The number of available single-family homes grew to 1,214 which represents a 33 percent year-over-year increase. Condo inventory finished the week at 666, up about 34 percent from a year ago.
Both the average sale price and the median sale price of a Saskatoon home bounced back from some unusual lows last week hitting $369,813 and $349,900 respectively. The six-week average price grew again, but just marginally. It ended the week at $360,861, up just a bit more than a thousand dollars compared to last week’s close. That’s down a little more than three thousand dollars from where it stood a year ago. The four-week median price remained stable at $351,400 to find itself up annually by about fifteen hundred dollars.
Once again, six sellers found themselves a buyer willing to pay more than the asking price. The average overbid this week reached $17,071. On the flip side of the negotiating table, 95 home buyers came away with a discount that averaged $10,213. Another seven deals closed at the full asking price.
Other notable real estate activity this past week included 94 cancelled and withdrawn listings (87 and seven respectively), 23 expired listings and 83 price changes.
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