Saskatoon real estate week in review: September 4-10, 2016

Saskatoon real estate week in review: September 4-10, 2016

Following the close of the first month that recorded year-over-year sales gains in 2016, Saskatoon real estate sales fell flat this week as local REALTORS® reported just 65 firm deals to the multiple listings service®, a drop of 17 compared to last week, but just enough to continue a trend of meeting or beating sales for the same week the year before, now six times in a row.

he number of new listings added to the MLS® system declined to 190 which is also down 17 from last week, and 31 fewer homes than were listed during the same period of 2015.

The total number of active residential listings on the multiple listing service made some gains as number grew from 1986 at last week’s close to 2004 today, down from 2056 a year ago. Today’s totals show 1102 single-family homes with an active status, well below the 1358 detached houses available last year at this time. Meanwhile, condo inventory inched higher to 734 to close with about 57 more units than were available on this date in 2015.

With far more sales above the average than below, the weekly median price grew again to $349,900 while the weekly average also pushed higher to $346,575. Stronger prices in the short-term couldn’t keep the six-week average from falling for the fourth consecutive week as it closed at $351,411 for a weekly decline of about six thousand dollars but still nearly 4K above where it was a year ago. Spurred by the lack of lower end sales, the four-week median managed to gain five thousand dollars from last week to finish at $340,000 about even with were it stood a year earlier.

After a three week overbid drought, seller found a bit more love at the bargaining table and five of them made off with an above list sale with a average bonus of $9,598 being paid. On the other said of the table, 58 buyers got away with a discount off of the list price that averaged $6,335. Another two deal closed at the full asking price.

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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