Saskatoon real estate week in review: October 4-10, 2015

Saskatoon real estate week in review: October 4-10, 2015

MLS® homes sales and new listings both fell lower this week. Saskatoon real estate agents reported just 67 firm residential sales to the Saskatoon multiple listing service®, down from 80 a week ago to fall short of sales for the same week last year by ten. Meanwhile, local agents brought 183 home listings to the MLS® system, down 20 from the previous week to show a year-over-year increase of eight listings.

Active MLS® listings in the residential category continued to maintain levels above 2000 as it has for 21 of the past 22 weeks. Inventory grew by just 18 units to finish the week at 2023 for an annual increase of 482. Today, single-family inventory sits at 1161 units, up from 1148 last week, and up on last year at this time when approximately 1033 single-family homes were available to buyers. Condominium listings total 679 units, down seven from last week but ahead of levels recorded a year ago when about 435 condominiums were being offered for sale. That puts condo inventory up by 56 percent on an annual basis while single-family homes show gains of about 12 points on the year.

Increased activity at the upper end of the Saskatoon real estate market brought the median sale price of a home sharply higher to $346,500 while the average made similar weekly gains and climbed to $355,112. Both of the longer term measures took their largest gains in the past two months. The six-week average price grew by more than three thousand dollars from last week to $347,222 to count an annual loss of about six thousand dollars. The four-week median price grew by five thousand dollars from a week ago to hit $335,000 which is up seven thousand dollars from the same week last year.

Once again, buyers had the greatest clout during negotiations leading to 57 deals closing below the sellers asking price by an average of $11,910. On the flip side, five sellers scored a bit of a bonus with an above asking price offer that netted an average bonus of $11,480. The remaining five sales closed at full list price.

Other notable real estate activity this past week included 101 cancelled and withdrawn listings (86 and 15 respectively), 42 expired listings and 92 price changes.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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