New listings took a serious nosedive coming in at their lowest levels since the week of January 28 – February 1. A total of 96 properties were offered for sale on the multiple listing service including 76 single-family homes and 20 condominiums. Total active residential listings fell to 1,673 units to find their lowest level since the week of August 18-22. A total of 49 listings were cancelled or withdrawn and 29 of those properties found their way back to the system as new listings. 89 price adjustments were approved over the course of the week. Today’s active listing inventory consists of 1,045 houses and 529 condos. The “units sold vs. units listed” graph indicates that there has been some narrowing of the massive gap that developed between the two through the spring.
Unit sales fell to 45 units from 49 the week before. 42 buyers managed to negotiate a contract below the asking price to the tune of $12,502 on average. The average selling price was down from previous weeks, reaching its lowest level since the week of August 25-29to settle at $280,096. The average selling price of a Saskatoon home was fairly consistent with the median price, which came in at $280,000 for the week.
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Royal LePage Vidorra