The Saskatoon real estate market bounced back over the past week as local REALTORS® reported 72 home sales to the multiple listing service®. That’s up by 21 compared to the previous week, and tops sales for the same period last year by 19. That was enough of a gain to make up for sales declines recorded over the first week of the month September, bringing us about even for the month of September on an annual basis.
New listing numbers grew from 158 last week to reach 167 by the close of business Friday. That number is down when compared to the same week last year when local agents listed 182 Saskatoon homes for sale.
The number of Saskatoon homes available to buyers on the MLS® fell by just five this week to settle at 1961, down from 2127 at the close of the same week in 2017. Today, there are 1086 detached houses for sale, down from 1227 a year earlier. The condominium category shows 753 active listings, down from 788 a year earlier.
With just five sales above the $500K mark, and twice that below $200,000 both the weekly average sale price and the weekly median fell lower to $310,929 and $313,750 respectively. The six-week average price slipped lower for the fourth consecutive week. It finished the period at $325,933 which is lower than last week by two grand, and down annually by nineteen thousand dollars. The four-week median fell for the fifth week in a row to settle at $312,500. That number is down nearly two thousand dollars for the week and sixteen thousand annually.
One lucky seller had a pleasant negotiation that resulted in a deal for $100 more than the list price they selected. It was a good week for buyers, 66 of whom managed to grind a discount that averaged $12,350.
Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that those sales that do show a sale price that is greater than the list price are all new properties that spent some period of time on the market, and most likely included additional improvements that were not reflected in the original list price. We report these to you as “at list price sales”, which is likely too generous in some cases, but it’s simply not practical to obtain the full details of each sale.
More weekly stats and numbers for those who love them.
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Royal LePage Vidorra