Saskatoon real estate activity took an upward bounce this week as the total number of Saskatoon homes reported as being firmly sold rose to 90, up from 82 the week before, but still falling well short of sales for the same week last year when 105 homes traded hands. This is the fourth consecutive week during which sales fails fell short of last year’s numbers, something that has occurred two out of every three weeks this year.
The number of new listings added to the MLS® system fell sharply to produce the smallest weekly numbers we’ve seen since the end of March. Saskatoon real estate agents brought just 190 homes to the market, down from 218 last week and sharply lower that the 233 homes that had hit the system during the same week last year.
Active listing inventory grew marginally from 2115 at last week’s close to 2134 today. That was enough for a year-over-year gain of 111 homes, for our largest annual increase to the numbers since late March. Today’s totals include 1161 single-family homes, up just slightly from 1153, the number that were available last year at this time. Condo inventory levels continued to grow and reached 793, up from 682 a year ago.
Prices grew by all four measures we track. That was more a reflection of low numbers last week that it was about impressive gains this week. Both the weekly median price and the weekly average price were pushed back to more typical numbers as fewer entry level sales were reported this week. Those measures came in at $352,750 and $361,794 respectively. The six-week average price inched up less than a thousand dollars from last week to reach $349,169 for an annual loss of nine thousand dollars. The four-week median price grew to $336,200 for a weekly increase of nine thousand dollars and an annual decline of 22K.
Buyers did fairly well at the negotiating table as the vast majority were able to grind out a below list deal with an average discount of $10,889. Meanwhile, just two sellers found a buyer willing to pay more than their asking price but the bonuses were strong averaging $7600. Six deals closed at full price.
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Royal LePage Vidorra