Saskatoon real estate week in review: May 6-12, 2012

Saskatoon real estate week in review: May 6-12, 2012

Saskatoon real estate sales continued to clip at a pretty good pace this past week with local agents reporting a total of 96 house and condo sales to the Saskatoon multiple listing service®. That number is down from the previous week by 13 properties and ahead of numbers produced during the same week last year by 12.

New listings numbers came in very strong this week. In fact, they once again reached their second-highest weekly level for the year as 184 houses and condominiums hit the market, to see an increase of five compared to last week and a whopping gain of 65 units compared against the same week in 2011.

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The total inventory of active MLS® listings in the residential category saw its first significant gain in weeks as that number pushed higher by 58 units from last week to reach 1,190 properties. That leaves us roughly 150 units shy, or about ten percent off of inventory levels recorded on the same date last year. Today’s active listing searches show 714 single-family homes (houses) and 397 condominiums bearing an “active” status. Last year, at this time, those numbers sat at 786 and 486 respectively.

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The average selling price of a Saskatoon home surged higher over the previous week gaining almost 20K to reach $337,459. The median sale price took the same direction but capped its gains at 18K reaching $318,900. For the fourth consecutive week, the six-week average selling price of a Saskatoon home reached a new record high. This past week, it grew by about twenty-five hundred dollars to finish the week at $346,386 and claimed an annual gain of just over thirty thousand dollars. The four-week median price slipped two thousand dollars from the previous week to $323,000 to put it $14,500 higher than it was one year ago.

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Saskatoon homes that traded for more than the asking price inched marginally higher to seven. Those fortunate sellers managed to pick up an additional $3,861 above their asking price. Another 18 home sellers bagged a full price offer. Meanwhile, 71 of this week’s 96 sales required a sharper pencil for the seller. Those deals concluded below the asking price by an average of $8,776.

Other notable Saskatoon real estate activity on the multiple listing service® this week includes 36 canceled and withdrawn listings, just 5 properties that expired from the system without a sale and 41 price changes.

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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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