It was another week of up and down activity as Saskatoon real estate sales softened to 52. That’s down from 64 last week and it falls short of numbers posted during the same week a year ago when local agents reported 54 firm residential deal to the multiple listing service®. Still, as February draws nearer to its close, residential sales appear to be on track with last year’s numbers, even as the volume of new listings sees some declines. This week, just 133 listings were added to the inventory. That number is well down from the 156 Saskatoon homes listed the week before, and significantly lower than the 181 properties offered for sale over the same period in 2016. Year-to-date, 1,275 residential properties have been listed for sale on the MLS®. By this time last year, 1,345 new listings had been added to the system.

 

 

Saskatoon residential MLS ® sales and new listings for the week of February 19-25, 2017

 

 

The inventory of residential property listings available to Saskatoon home buyers inched higher this week as it grew to 1721 for a weekly increase of 14 but still fell below levels recorded a year earlier for the third week in a row. At the close of the same week last year, there were 1750 Saskatoon homes showing an active status on the MLS®. As of this morning, there are 894 single-family homes for sale within the city limits, down just marginally from 918 a year ago. Condo inventory sits at 683 which is just seven units above level recorded at this time last year.

 

 

Active residential listings on the Saskatoon MLS® at February 25, 2017

 

 

 

With just three sales processed above the $500,000 mark and strong activity at the market’s entry level, both the weekly median and the weekly average price slid lower to $289,950 and $312,384 respectively. I’ve only tracked these two measures on an actual spreadsheet since the beginning of 2016 but both numbers are as low as they’ve ever been over that period of time. This is partially due to a remarkably strong week for condo sales which came in at 19 units, the majority of which were priced below the mid-value point of this week’s sales. Taking a look over some longer periods, the four-week median price fell six thousand dollars from a week ago to $316,500. The six-week average also fell lower to $335,819, losing about four thousand dollars from a week ago. and roughly five thousand down on a year-over-year basis. It's also worth noting that once again, both of the longer term measures are at a four-year low for this particular week.

 


Average and median prices for Saskatoon homes sold through the MLS® from February 19-25, 2017


 


Historical six-week average price of Saskatoon homes sold through the MLS® from February 19-25, 2017



Historical four-week median price of Saskatoon homes sold through the MLS for the week of February 19-25, 2017

 

 

If the rumour of “multiple offers” being fairly common at this particular time is true, you wouldn’t know it by looking at overbid sales, which were non-existent in this week’s sales. There were four sellers who reported a property sold at the asking price but all four were new homes, which isn’t that uncommon. Savvy builders tend to know they have to price right at market value. If their product is moving it’s a good sign that they’re doing it right. Meanwhile, 48 of this week’s 52 sales closed below the seller’s list price netting average discounts of $11,998. 

 


Saskatoon real estate statistics for residential MLS® sales from February 19-25, 2017


 

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

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The Saskatoon housing market produced its strongest weekly sales numbers for the 2017 calendar year as local real estate agents reported 66 firm residential sales to the multiple listing service®, up from 52 last week for an annual increase of 14 home sales. The number of new listings added to the system remained steady compared to the week before at 156 but finished well ahead of the 130 Saskatoon homes that were added to the MLS® system over the same period last year.

 


Saskatoon residential MLS ® sales and new listings for the week of February 12-18, 2017


 

The total number of active listings available through the MLS® continued to make weekly gains as it grew by 38 units to reach 1707 homes and closed the week slightly down from levels recorded a year ago. At that time, there were 1715 residential properties showing an active status on the system. Today’s totals include 874 single-family homes. That’s 36 fewer houses than were available at the close of the same week last year. Of course, we also have 682 condos for sale across all Saskatoon neighbourhoods. That puts us ahead of last year’s levels by 35 units.

 


Active residential listings on the Saskatoon MLS® at February 18, 2017


 

Strong activity at entry levels ushered the weekly median price of a Saskatoon home lower to $316,200. Still, with more than ten percent of the week’s sales topping $500,000 and one sale reaching nearly a half a million dollars, the weekly average made some modest gains and reached $340,663. Meanwhile, the six-week average price grew by just a few hundred dollars from last week to close at $339,831. That’s down just two thousand dollars from where it stood a year ago but still at its lowest point for this particular week since 2013. The four-week median price also edged lower compared to last week. It finished the period at $322,500 which is down $7500 from a year earlier, and also its worst performance during this week in four year’s time.

 

 

Average and median prices for Saskatoon homes sold through the MLS® from February 12-18, 2017

 

Historical six-week average price of Saskatoon homes sold through the MLS® from February 12-18, 2017

 

Historical four-week median price of Saskatoon homes sold through the MLS for the week of February 12-18, 2017

 

 

Like the previous week, only one seller found a buyer willing to outbid someone else who also wanted their home, but this buyer went big offering $26,100 more than the asking price. Four others generously offered to pay the full asking price. The remaining 61 buyers pushed for a discount and netted an average saving of $12,422.

 


Saskatoon real estate statistics for residential MLS® sales from February 12-18, 2017


 

I’m always happy to answer your Saskatoon real estate questions.  Please feel free to call or text at 306-241-6676 or email me at norm@teamfisher.com.

 

Norm Fisher

Royal LePage Vidorra

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The Canadian Real Estate Association (CREA), released national sales statistics for the month of January, 2017 this week. According to the CREA, “National home sales were down slightly in January 2017 on a month-over-month basis."

 

Home sales over Canadian MLS® Systems edged down by 1.3% month-over-month in January 2017, putting them at the second lowest monthly level since the fall of 2015 and only slightly above levels recorded last November when recently tightened mortgage regulations came into effect.

 

Highlights of CREA's report

  • National home sales declined 1.3% from December 2016 to January 2017.
  • Actual (not seasonally adjusted) activity in January was up 1.9% from a year earlier.
  • The number of newly listed homes dropped 6.7% from December 2016 to January 2017.
  • The MLS® Home Price Index (HPI) in January was up 15.0% year-over-year (y-o-y).
  • The national average sale price was little changed (+0.2%) y-o-y in January.

 

Read the entire report on Canadian MLS® sales for January, 2017.

 

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is behind the contact button on the navigation bar at the top of this page. Please feel free to call or email.

 

Norm Fisher

Royal LePage Vidorra

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Welcome to 2530 Lansdowne Avenue in the the Avalon area of Saskatoon.

Offered at $446,500 MLS®

 

View full listing details here.

 

Beautifully located in Avalon, this home offers easy access to schools in both systems and the University of Saskatchewan campus. There are numerous nearby shopping opportunities including the Broadway Business District and an impressive number Stonebridge shops and services. Downtown Saskatoon is just a few minutes away via the South Circle Drive Bridge. Built in 2013, you’ll appreciate the opportunity to live in a well-established area but still enjoy the benefits of modern construction. Nine-foot ceilings and gorgeous hardwood floors across the open main floor give the home a real touch of class that’s sure to impress. The kitchen is one of the nicest we’ve seen featuring white shaker style cabinets, granite countertops, and a ceramic backsplash. A full set of stainless steel appliances including a built-in oven and natural gas range top make this room a joy to cook in. The huge island is perfect for everyday dining, or indulge your guests at the adjacent dining room table. You’ll love your new ensuite with its deep soaker tub to unwind in at the end of a long day and a separate shower. The lower level is ready for your development plans as the need presents itself.

 

Interested parties should contact Lyndon Neher at 306-380-9090 for details and showing arrangements. 

 

Last year, TeamFisher.com hosted 334,888 user sessions. Those users viewed 1,594,672 listings while they were here providing our sellers with prime exposure. If you have a home to sell, we'd be happy to represent you and prominently display your home here. 

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Offered at $339,900 MLS®

 

 

View full listing details here.

 

Welcome to 350 Avenue T South in the Pleasant Hill area of Saskatoon.

 

A rare find in Saskatoon’s Pleasant Hill area. This lovely single-family home was built in 2014 and offers striking curb appeal with a low maintenance exterior of vinyl siding, aluminum trim and a covered veranda off the front of the house. It sits on a huge lot (140 feet deep) with plenty of room for a future garage with rear lane access. With a fresh coat of paint throughout the interior, it’s showing beautifully and ready now for your move. Numerous large windows provide plenty of natural light through the open floor plan. The home offers a massive eat-in kitchen with gorgeous cabinets, an island, stainless steel appliances, and a spacious adjacent dining area. On the upper level, you’ll find the laundry area, a large master bedroom with a 5-PC ensuite including his-and-hers sinks, two additional spacious bedrooms, and the full main bathroom. The undeveloped lower level has a separate entrance and would work well for a pretty pleasant suite for those looking for revenue opportunities.


Interested parties should contact Brett McClelland by text or voice at 306-260-7086 for details and showing arrangements.

 

Last year, TeamFisher.com hosted 334,888 user sessions. Those users viewed 1,594,672 listings while they were here providing our sellers with prime exposure. If you have a home to sell, we'd be happy to represent you and prominently display your home here. 

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Saskatoon real estate sales took an upward turn from last week as local agents reported 52 firm residential deals to our MLS®. That’s up eight from the previous week, but down by four sales when compared to the close of the same week last year. The number of new listings submitted to the multiple listing service® was up by two from last week to 157, which is about 30 fewer Saskatoon homes than were listed during the same period of 2016.

 


Saskatoon residential MLS ® sales and new listings for the week of February 5-11, 2017


 

For the first time in over a month, the total inventory of residential listings for sale on the saskatoon MLS® fell lower on an annual basis. As of this morning, there were 1669 Saskatoon homes for sale, up 39 from the previous week, but down by 15 on a year-over-year basis. Single-family homes inventory sits at 860 today, down 50 units from a year earlier when buyers had 910 houses to choose from. There are 656 condominiums showing an active status on the MLS®, up from 616 a year ago.

 


Active residential listings on the Saskatoon MLS® at February 11, 2017


 

The median sale price for the week edged higher to $329,500 while the weekly average price fell lower to $338,001. The six-week average price was roughly four thousand dollars lower than it was last week at $339,552 and down from where it was at this time last year by 15K. The four-week median price moved higher by four thousand dollars on the week reaching $324,000 for an annual loss of fourteen thousand dollars.

 

 

Average and median prices for Saskatoon homes sold through the MLS® from February 5-11, 2017

 

Historical six-week average price of Saskatoon homes sold through the MLS® from February 11-17, 2017

 

Historical four-week median price of Saskatoon homes sold through the MLS for the week of February 5-11, 2017

 

 

One seller found a buyer willing to up the ante in a bidding war and came out $10,400 above their asking price. Meanwhile, 48 buyers managed to grind a deal that netted them an average discount of $16,695. This unusually high number was skewed by a discount that amounted to a quarter of a million dollars on one area 2 sale. It knocked the average up by $5200 on each of the 48 below list price sales. Another two deals closed at the asking price.

 

 

Saskatoon real estate statistics for residential MLS® sales from February 5-11, 2017

 

 

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

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After a few fairly strong weeks to start the year, Saskatoon home sales fell a bit flat this past week as local real estate agents reported just 44 firm residential deals to the MLS® system. That number fall shorts of sales recorded the previous week by 12, and behind sales during the same week a year ago by the same amount.

 

The number of new Saskatoon real estate listings that were added to the multiple listing service® increased by 12 from the previous week to finish lower than they were over the same period last year by 22 homes.

 


Residential sales and listing activity from the Saskatoon MLS for the week of January 29 - February 4, 2017


 

The number of homes that are currently offered for sale on the Saskatoon multiple listing service® grew by just three on a weekly basis, but enough to keep levels higher than they were a year ago for the third consecutive week. At the close of business for this period, home buyers had a selection of 1630 active real estate listings to chose from, up modestly from the same time last year when 1617 listings were displaying an active status. Today, we have 849 single-family homes for sale, down from 883 a year ago. The condominium category is showing some strong year-over-year gains as those numbers grow to 635 units, up from 576 last year.

 


Active Saskatoon residential MLS listings for the week of January 29 - February 4, 2017


 

Even though upper-end home buyers were not particularly active this week, the median sale price of the 44 Saskatoon homes sold was $324,000 which is up about 10K from last week. The average price for the week slipped a couple of thousand dollars to $341,039. Meanwhile, the six-week average price took some gains for the second week in a row as it rose a little more than two thousand dollars from the previous week to $342,933 for a year-over-year drop of about seven thousand dollars. The four-week median price continued to swing wildly as it fell more than seventeen thousand dollars from last week to settle at $320,000 and record an annual loss of nearly 23K.

 

 

Average and median prices for Saskatoon homes sold MLS for the week of January 29 - February 4, 2017

 

Historical six-week average price for homes sold MLS through the week of January 29 - February 4, 2017

 

Historical four-week median price for Saskatoon homes sold MLS through the week of January 29 - February 4, 2017

 

 

 

Six of the week’s 44 home sales showed a selling price that matched the asking price on the MLS® listing, while two deals went for more and netted those sellers an average bonus of $3,600. The remaining 36 transactions closed below the asking price showing an average discount of $12,042. The largest gap between the list price and the sale price for the week was on a Sutherland area home that went $30,000 (roughly ten percent) below the asking price after 105 days on the market.

 


Saskatoon residential sales and listing Activity for the week of January 29 - February 4, 2017


 

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

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A media release from the Saskatoon Region Association of REALTORS® with an overview of residential MLS® sales and listing activity follows.
 
Home sales in January brought cause for optimism for the year ahead with a six percent increase, year-over-year. Sales of 185 units represented the highest volume January since 2014. The five-year average for the month is 195 sales. "An increase in sales in a typically quiet month is very encouraging," comments Jason Yochim, CEO of the Saskatoon Region Association of REALTORS®, "especially in the wake of the tougher mortgage qualifications introduced last October."
 
Saskatoon residential MLS sales for January, 2017
 
Saskatoon single-family home sales for January, 2017
 
Saskatoon condominium sales for January, 2017
 
 
 
Another positive indicator is the number of homes available for sale. At the end of January, there was a total of 1,592 homes for sale in the Saskatoon market, representing the second lowest monthly total in almost two years. The lowest inventory level was December of 2016 with a total of 1,443 properties on the market. 
 
Active residential listings in Saskatoon by month for January, 2017
 
New Saskatoon real estate listing (MLS) processed by month for January, 2017
 
 
 
At current inventory levels, anticipating no increase in demand, and no new properties listed for sale, it would take over eight months to liquidate the current inventory of properties. The five-year average for available inventory in the Saskatoon market is just under five months. The "sales to listing ratio" is an indicator of whether we are in a buyer’s market or a seller’s market. It is determined by dividing the number of sales by the number of new listings for a period of time. When this ratio is at 50 percent, the market is considered balanced. The last couple of years has favored buyers in the marketplace with the average sales to listing ratio being 40 percent. January typically has an uptick in listing activity and quieter sales activity which is reflected in this year’s sales to listing ratio of 26 percent. The five-year average for the month of January is 30 percent.
 
Homes priced below $400,000 saw a much-needed increase in activity compared to last January with 143 sales between $200,000 and $400,000, a 20 percent increase, year-over-year. The average sale price for January of $341,800 represented a four percent decline compared to last year. In 2016, a steady number of sales over $750,000 kept the average price stable in spite of a five percent decline in total sales. This emphasizes that using an average to determine the true market picture is easily misleading. The median price for last month was $318,500 which was the lowest median price in almost five years. A more reliable indicator of the market is the MLS® Home Price Index® (HPI). It is considered to be the most accurate determinant of where a real estate market is trending. The HPI composite benchmark price has also been trending downward, although very slightly for several months.
 
 
Average residential sale price for Saskatoon homes by month for January, 2017
 
MLS Home Price Index for Saskatoon single-family homes in January, 2017
 
MLS Home Price Index for Saskatoon twonhouses in January, 2017
 
MLS Home Price Index for Saskatoon apartments in January, 2017
 
 
In January, it took 54 days, on average, to sell a home in Saskatoon which is consistent with the five-year average of 51 days. This compares to 45 days which is the average market time over the past five years. "In any market, a home that is priced to current market conditions should sell in even less time, often within a week or two," comments Yochim. "Buyers are well educated on the market and are not fooled by optimistic sellers. However, they are willing to pay market price for the right home in any market. For homes that are selling, the sale prices are being realized within 97 percent of the asking price."
 
"The best advice I can give a seller in any market is to get professional advice when dealing with your largest asset," adds Yochim. 
 
For further information, please contact:

Jason Yochim CAE, CRAE
Chief Executive Officer - Saskatoon Region Association of REALTORS®
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