Saskatoon real estate week in review for March 30 – April 5, 2019 (edition #630)

Following four consecutive weeks of sales growth, Saskatoon homes sales slipped lower to 74 this past week, down from 79 the week before. That tally falls short of numbers generated during the same week of 2018 by three.

Meanwhile, new listings were through the roof as Saskatoon real estate agents pushed 199 properties to the MLS®, up 49 from last week, and about even with the same period last year. A good chunk of those were listings that had expired at the close of March.

The MLS® inventory of Saskatoon homes for sale jumped from 1600 at the close of the previous week to 1656 today. While still lower than they were at this time last year when there were 1722 properties for sale within city limits, today’s numbers produce the smallest year-over-year decline to the inventory for any week this year. Week by week that decline seems to be slipping away.

Today we have 901 single-family homes for sale, down from 912 at this time last year. There are currently 663 condominiums showing an active status, down from 716 a year ago.

More upper-end housing activity pushed the median price slightly higher this week to $321,500. The average sale price of a Saskatoon home grew even more to $335,836. The six-week average price inched up to $322,611 for a weekly increase of a few hundred dollars and an annual loss amounting to nearly twelve thousand dollars. The four-week median price fell lower for the third consecutive week to settle at $310,000. That amounts to a weekly decline of nearly two thousand dollars and an annual drop of 10K.

There were two overbid sales reported this week, one at just $100 more than the seller’s asking price, the other paying a bonus of $25K. Meanwhile, 66 of this week’s sales went below the list price by an average of $12,026.

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.

Thank-you for reading TeamFisher’s Saskatoon Real Estate Week in Review.

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