Saskatoon real estate agents produced some big new listing numbers breaking 200 homes for the seventh consecutive week. This week brought 237 new listingto the multiple listing service®, down just one from last week, to come in under last year’s numbers of 249.
Sales increased by one unit compared to last week as REALTORS® reported 86 firm residential deals, well down from the same period last year when 102 sold signs went up.
The total number of active listings available to buyers on the multiple listing service® took a large step higher for the second week in a row as it grew by 77 homes to reach 2069 for its first close above the 2000 mark this year. Those numbers are higher than they were a year ago by 68 homes. Last year, active listings numbers peaked at 2092 right at the end of June and then began to decline. It’s looking like a new record for total listings is in the cards over the next couple of weeks.
For the past seven or eight weeks, the number of single-family homes available for purchase had been down from the previous year. That changed this week as the inventory grew to 1117 and closed up from where it sat a year ago by five. Condo inventory hit 777 this week, up from 701 at this time last year.
A solid showing of sales at the upper end of the Saskatoon real estate market pushed the weekly median price up by just over 20K to $350,000 while a handful of sales above $600,000 drove the weekly average higher by about six thousand dollars to $359,980. Still, the four-week median price managed to slip this week. It fell lower by three thousand dollars from last week to close the week about eighteen thousand dollars lower than it was a year ago. Meanwhile, the six-week average price edged higher by roughly thirty-four hundred dollars from a week ago to find itself down about 10K from what was recorded at the end of the same week in 2015. For those who haven’t noticed, both the six-week average and the four-week median at at their lowest point for this particular week since 2012. That’s been the case for the past three weeks.
Ten sellers ended up with an offer at their asking price. One home sold for $1100 more than list price. On the other side of the negotiating table, 76 buyers closed there deal with a discount averaging $10,492.
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Royal LePage Vidorra