Saskatoon real estate sales gained some ground this week as local agents reported 67 firm residential deals to the Saskatoon MLS®, up from 53 a week earlier. That said, numbers failed to meet those generated over the same period in the previous year for the sixth consecutive week, this week’s shortfall being 14 homes.
New listings continue to flow onto the multiple listing service® as Saskatoon home sellers hoping to find a buyer before the snow flies take one last crack at the market. A total of 189 new listings were added for this period, about the same number that came on the previous week, but up annually by 21.
The inventory of active residential real estate listings available to buyers through the MLS® increased for the second week in a row as it grew to 2148 Saskatoon homes, up 21 from a week earlier. That’s 192 more listings than were available at the same day a year earlier. Included in those numbers are 1261 single-family homes, up from 1071 last year, and 775 condominium units, up 54 from a year earlier when a selection of 721 were displayed on the MLS®.
With nearly 20 sales reporting a sale price of less than $250,000 the weekly median price fell sharply lower ($50,000) this week to $290,000. The weekly average fell even more ($60,000) after reaching its highest point for at least two years the previous week. It came down to $335,765 in spite of a couple of large residential sales that collectively added more than $2 million to the total sales volume. The six-week average price took its third weekly increase to reach its highest point since June at $351,229. That increase left it ahead by about six thousand dollars compared to last week, and just as much when compared against numbers generated during the same week a year ago. Meanwhile, the four-week median price moved in the opposite direction falling about thirty-five hundred dollars from the week before. It came in a $334,550 which is about where it was at this time last year.
After a dry spell of a few weeks, three sellers managed to complete a sale above their asking price but the bonuses paid were small at just $133 each, on average. While three other sellers got their price, 59 of this week’s 67 sales were reported to have sold below asking price with an average discount of $13,687.
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Norm Fisher Royal