Saskatoon real estate week in review: September 13-17, 2010

Saskatoon real estate week in review: September 13-17, 2010
Saskatoon real estate sales (houses and condos) matched numbers recorded last week as local agents brought sixty-two firm transactions to the multiple listing service®, a decline of nearly two-dozen homes when compared against sales during the same week in 2009.

New listingsfor the week took a slight dip dropping four units from last week to see 108 Saskatoon houses and condominiums offered for sale on the MLS®, also down from the same period last year, but only by three listings.

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The total inventory of active Saskatoon MLS® listings gained a little ground again climbing six units to close the week at 1362 properties, well above the 1091 listings available at this time in 2009. On a week-over-week basis, single-family home inventory grew by sixteen units to 807 while available condominiums slid lower by nine to settle at 477.

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Cancelled and withdrawn listings came in just one unit below the previous week at forty-one. Twenty-three were immediately re-listed at a new, lower price. An additional seventy MLS® listings saw a price adjustment over the course of the week.

This week brought more activity at the lower end of the market causing the median selling price to slip close to $8,000 on a week-over-week basis and close below $300,000 for the first time in five weeks. The average selling price slid over $17,000 compared to last week to finish at $308,889. The six-week average selling price declined twenty-two hundred dollars over the week to $308,798 and posted a gain of $23,861 when compared against the same period in 2009. The four-week median dropped six thousand dollars to $300K to see an increase of $35,000 on a year-over-year basis.

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Overbid sales made a slight comeback as three Saskatoon home buyers offered to pay a price that exceeded the seller’s list by $4,700 on average. Another two agreed to pay the full asking price. Fifty-seven of sixty-two buyers who stepped up to the plate managed to close a deal with an average discount of $11,037 or approximately 3.6 percent of the asking price.

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Our Saskatoon home search tool offers MLS® listings from all real estate brands with the most detail and information available anywhere. Check it out here.

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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