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Cancelled and withdrawn listings came in just one unit below the previous week at forty-one.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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Norm Fisher
Royal LePage Vidorra