Saskatoon real estate week in review: September 10-16, 2017

Saskatoon real estate week in review: September 10-16, 2017

The number of Saskatoon homes that traded through the local MLS® system fell by three on a week-over-week basis to 53, down 30 sales when compared against firm residential sales for the same week last year. This is the fifth consecutive week during which sales fell year-over-year. Meanwhile, the number of new residential listings that were added to the multiple listing service® grew to 188, up from 167 last week, and beating numbers posted during the same week last year by 11.

On the heels of a three-week retreat that brought active residential listings eight percent below their annual peak, numbers inched higher again and reached 2127, up 23 from last week’s close, leaving us with 147 more Saskatoon homes than could be found on the MLS® a year earlier. Today’s totals include 1227 single-family homes, up from 1091 at the close of the same week last year. Condo inventory stayed stable compared to a week earlier. There are currently 788 for sale on the system, up from 723 a year ago.

With an unusually high mix of upper-end sales and a pretty sparse showing of trades below 200K, the average sale price of a Saskatoon home spiked to its highest point this year, $395,375, even as the weekly median price declined to $340,000. The six-week average price took some gains for the second week in a row to finish at $344,953. That’s down just two thousand dollars from where it was at the close of the same week last year. The four-week median price slipped lower losing two thousand dollars on the week to settle at $338,000 for a year-over-year loss of six thousand dollars.

Once again, there were no sales recorded at a price above the seller’s list price, but five deals did go through at full price. The remaining 48 sales closed below the asking price and netted those buyers an average discount of $14,556, a figure that is somewhat skewed by large dollar discounts on the big stuff that traded hands this week.

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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