Saskatoon real estate: Week in review (July 13-17 2009)

Saskatoon real estate agents reported ninety-two sales of single-family detached homes and condominiums to our MLS system this week, a gain of just one property compared to the previous week, and up twenty-one homes compared to the same week last year.

New listings of houses and condos increased to one hundred and fourteen properties, up from one hundred and three last week, but down fifty-two units compared to the same week last year when one hundred and sixty-six Saskatoon homes were offered up for sale.

Click the image for a larger version of the graph.

Total active residential listings fell again sliding by nine units from last week to finish at 1310, a decline of roughly twelve percent compared to this time last year when 1500 properties were available.

Sixty-three home sellers adjusted their asking price this week while another fourteen canceled and relisted their property, most at a new price.

The average selling price of a home in Saskatoon retreated and fell just over $16,000 compared to last week to settle at $284,638. The six-week average held steady on a week-over-week basis at $281,555, but was sharply lower year-over-year, down from $304,824. The four-week median edged up $2,500 compared to last week, down $11,000 compared to the same week in 2008 when it reached $290,000.

Click the image for a larger version of the graph.

The average underbid slid to $11,605, down from $14,262 last week. The average discount came in at 4% of the asking price.

See a Google map displaying the boundaries of Saskatoon real estate “areas” here
Data collection and calculation for our statistical reports

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.

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Norm Fisher
Royal LePage Saskatoon Real Estate