Saskatoon real estate week in review: September 20-24 2010

Saskatoon real estate sale numbers for the week came in at their highest point in the last month with seventy-four houses and condominiums reported firmly sold through the local MLS system. That’s a gain of twelve units when compared with last week and it marks another year-over-year gain. During the same week last yearsixty-seven homes traded.

New listingsslid lower for the third consecutive week as just ninety-seven properties were introduced on the multiple listing service, a drop of eleven from last week, and down the same number when compared with the same week in 2009.

Click the image for a larger version of the graph.

The inventory of active real estate listings continued to maintain a near straight line finishing the week at 1358 units, down just four from last week and up from the 1088 Saskatoon homes that were available at this time last year. This morning, there are 812 single-family homes for sale in Saskatoon and a selection of 472 condominiums, up from 633 and 370 respectively a year ago.

Click the image for a larger version of the graph.

Twenty-one of thirty cancelled or withdrawn listings came back for another go at the market this week. Eighty-one prospective home sellers adjusted their asking price over the course of the week.

Once again, the lower end of the market showed some promise with a higher percentage of overall sales. The average selling price of a Saskatoon home slid lower by more than sixteen thousand dollars to $292,541 to mark its first finish below 300K since mid-August. The six-week average still managed to inch up gaining nearly four thousand dollars on the week and reaching $312,375 to close nearly thirty thousand dollars higher than it was during the same one week period in 2009.  The four-week median retreated slightly and dropped about one thousand dollars from last week to $289,950, a gain of roughly seventeen thousand dollars over last year.

Click the image for a larger version of the graph.

Just two Saskatoon home sellers reported a sale price above the asking price, averaging a surplus of just $225. Eleven sellers got their full asking price while sixty-one of seventy-four sellers gave up an average of $10,589 to close a deal.

Click the image for a larger version of the chart.

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