Home sales numbers softened considerably this week as Saskatoon real estate agents reported just 64 properties having sold to the multiple listing service®, a drop of 21 compared to the previous week, well down from the 98 homes that traded hands during the same week last year. The number of new residential listings added to the MLS® stayed fairly high at 221, down from 256 last week and about on par with the same period a year ago when local agents added 218 Saskatoon homes to the system. Click the image for a larger version of the graph.
The total number of active residential listings available to buyers through the multiple listing service® continued to see-saw, this week moving higher by 23 homes over the course of the week to close at 2056 for a year-over-year gain of 463, and an annual percentage gain of 29. This week we closed with 1358 single-family homes showing an active status, up about 36 percent from this date last year when just 994 were available. Condominium selection sits at 677 today, up roughly 43 percent from a year ago when 472 units displayed a for sale status.
A little more buying activity at the entry level ushered the median sale price for a Saskatoon home lower this week to $329,950 even as the weekly average price made some gains over last week’s lows to come in at $335,128. At the same time, the longer term measures both headed lower. The six-week average price slipped for the third consecutive week to settle at $347,673 for a weekly loss of about twenty five hundred bucks and a year-over-year decline of just over five thousand dollars. The four-week median price slipped forty six hundred dollar on the week to $339,900 but managed to keep annual gains amounting to about twenty four hundred dollars.
Most of this week’s buying activity showed sales that were happening below list price, as usual. This week, 58 home buyers netted an average discount of $12,995 while four sellers got lucky and closed a deal that included an average overbid of $2,446. The remaining two transactions were reported to have sold at the seller’s asking price.
Other notable real estate activity this past week included 110 cancelled and withdrawn listings (103 and seven respectively), 34 expired listings and 96 price changes.
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