Saskatoon real estate sales reached their highest point for any week this year with 87 houses and condominiums trading hands through the multiple listing service®. That final tally is up 16 units from the previous week to finish well above the 63 Saskatoon homes that sold during the same week last year.
A spike in new listings happened at the same time, also reaching record numbers for any week this year. Saskatoon real estate agents brought 153 new listings to the MLS® system, up 55 from last week, but falling short of numbers from the same period last year when 192 new listings came onto the system.
Inventory numbers of Saskatoon MLS® listings moved higher this week gaining 35 units over the course of the week to close at 1092, its highest level this year. That number is ahead of levels seen at the same time last year by 32 homes. A search of today’s inventory shows 664 single-family homes and 342 condominiums displaying an active status. Last year at this time, those categories stood at 624 and 354, respectively.
A pretty good handful of upper end real estate sales saw the average sale price of a Saskatoon home surge to its highest point for any week this year at $363,586. Combining the upper end sales activity with fewer entry level sales pushed the median price higher as well to $347,400.
After trending lower for most of the first quarter, both of our longer term measures took a solid leap to higher ground. The six-week average climbed nearly ten thousand dollars from last week’s close to reach $341,059 for an annual gain of a bit more than thirteen thousand dollars. The four-week median pushed higher by eight thousand dollars this week and settled at $326,500 for a year-over-year increase roughly the same as the six-week average.
Overbid Saskatoon real estate sales cooled to just three. Those fortunate sellers picked up an additional $5,434 on average. On the other hand, sales at list price posted some of the strongest numbers we’ve seen in awhile at 23. The remaining 61 firm Saskatoon real estate sales closed below the asking price by an average of $8,929.
Other notable MLS® activity this week included 32 cancelled and withdrawn listings, 16 expired listings and 23 price adjustments.
Highlights from the news this past week
Why Canadian banks shouldn’t fear a housing slowdown - Financial Post
Home sales activity on an upward swing - Star Phoenix
Real estate’s late spring: Sales rebound fails to happen - Globe and Mail
Canadian home prices up in most markets in early 2013: Royal LePage - Financial Post
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By Norm Fisher
Royal LePage Vidorra