Saskatoon real estate week in review: October 10-14, 2011

Saskatoon real estate week in review: October 10-14, 2011
Following a huge spike in new listings last week, new MLS® listing activity softened this week to its lowest level for 2011 as Saskatoon real estate agents brought just 65 house and condo listings to the multiple listing service®. That’s almost 80 units fewer than the number of homes listed the week before and behind numbers produced during the same week last year by 12. Unit sales slipped again, falling just two from the previous week to 66 homes but still managed to trump numbers from the same week a year ago by 16 units. Click the image for a larger version of the graph. On the heels of a week that produced one of this year’s sharpest jumps to the total number of MLS® listings available in Saskatoon, numbers softened again declining 32 units on a week-over-week basis and finished just twelve properties below last year’s levels at 1234. This morning, there are 744 single-family homes and 416 condominiums in the mix. The inventory of Saskatoon houses and condos available for sale are each lower than they were last year at this time by nineteen units. Click the image for a larger version of the graph. Cancelled and withdrawn listings more than doubled over the previous week as 72 sellers pulled their active listings. Thirty-nine of those sellers did an immediate re-list, most at a lower price. An additional 46 Saskatoon home sellers adjusted their asking price. This week, 12 listings reached the end of their term and expired without a sale. The average sale price of a Saskatoon home made its third consecutive weekly gain and reached its annual peak for the second time in as many weeks closing at $339,930. Once again, there were some heavy-duty numbers at the top end of the market including two sales that collectively accounted for more than $2 million in volume. The weekly median took another big jump climbing almost 13K to $308,750. The longer-term measures each took an upward bump with the six-week average gaining about four thousand dollars over the week before to finish at $321,319. That represents an annual gain of roughly thirteen thousand dollars. The four-week median climbed three thousand dollars compared to last week to $303,000 for an annual gain of seventeen thousand dollars. Click the image for a larger version of the graph. Overbid sales increased to four units with an average overbid of $2,550. An additional three sellers got their full asking price while 55 of 66 Saskatoon sharpened their pencils to make a deal and finished below their asking price by $13,489 on average. Click the image for a larger version of the chart. 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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