Saskatoon real estate sales took a typical December dip falling by twenty units on a weekly basis to just 63, still enough to claim an annual increase of almost as much (19). I’ve been watching the numbers with a greater level of interest on the total sales for the year, which now sit at 4376, well ahead of last year’s total sales of 4215, and quickly closing on our previous record year for unit sales in 2007 when a total of 4448 Saskatoon homes traded hands. I’m now prepared to call this one in favour of 2014, a year in which Saskatoon will see its highest number of homes sold through the MLS®.
New listings continued at more of a sluggish pace, also typical for December. Listing a house is likely the last thing on one’s mind. Only the most serious of sellers are going to start that effort in December. Saskatoon real estate agents brought 108 new listings in, up four from last week, precisely even with the numbers generated during the same week last year.
The inventory of active listings available for purchase on the Saskatoon MLS® system took another sharp decline, this one being the largest drop that we’ve seen for any week in more than a year, as month end expired listings came out of the system. Totals slipped lower by 87 homes compared to the close of the previous week to finish with 1410 active listings, up about 225 from the same time last year. Single-family homes are at 816 today, up from 737 at this time last year. Condo inventory remains quite high at 443, about one hundred units more than could be found on the system at this time in 2013.
A bit more action at the upper end of the Saskatoon real estate market saw the median sale price of a home gain some ground as it edged up about five thousand dollars to $339,500. The average price paid for a Saskatoon home picked up just slightly more to finish the week at $353,394. The longer term measures both headed in the other direction as the six-week average price fell by more than nine grand to $361,166 for a year-over-year increase of about 14K. The four-week median lost just one hundred dollars to $349,900 closing thirty thousand ahead of where it was at the close of this week last year.
Just one lucky seller closed on an offer that was for more than their asking price and the bonus was small at just $200. On the opposite side of the negotiating table, 55 buyers made off with an average discount of $9,751. Seven others paid full price to close their deal.
Other notable real estate activity this past week included 70 cancelled and withdrawn listings (62 and eight respectively), 61 expired listings and 30 price changes.
Highlights from the news this week
Ten ways to increase your home’s value - Globe and Mail
Saskatoon housing sales top $2 billion - CBC News
A map displaying the boundaries of Saskatoon real estate areas is here.
An overview of data collection and calculation practices for our statistical reports is here.
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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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