New listings of Saskatoon houses and condominiums were up just two properties on a week-over-week basis to one hundred and six, but well below the one hundred and fifty-one properties listed during the same period in 2008.
Active listings in the residential category grew slightly and finished the week at one thousand and forty units, up eleven properties from the previous week, but well below the sixteen hundred and eighty-eight properties available at this time last year. The trend towards lower inventory levels certainly has slowed. The number of Saskatoon homes for salefell by nearly five hundred properties over June, July and August. We’re only down about forty units in the past five weeks.
Thirty-seven home sellers canceled or withdrew listings this past week. Twenty of those quickly changed their minds and signed a new listing agreement. An additional sixty-one sellers adjusted their asking price in hopes of attracting a buyer before the city freezes up.
The average selling price of a Saskatoon home climbed again for the third consecutive week reaching $292,637. The six-week average moved in the same direction but grew far more modestly climbing to $285,295, a gain of about nineteen hundred dollars over last week, but well below the $301,380 recorded during the same week in 2008. A nineteen thousand dollar week-over-week tumble for the weekly median sale price pushed the four-week median in the opposite direction to just $263,000, its lowest level since the week of April 24, and just sixty-five hundred dollars behind last year’s number of $269,500.
The average underbid on the Saskatoon homes that sold for less than the asking price grew from $9,236 last week to $10,626, but the higher asking prices this week meant that the average discount actually fell from 3.1% last week to 3% this week.
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