Saskatoon real estate agents posted a total of 72 residential sales to the local MLS® system this week, up three from last week to beat numbers generated during the same week last year by five. New listing activity remained strong as well. While those numbers slid lower by 15 homes when compared to activity from the previous week, they were well ahead of the 141 properties listed during the same period of 2016.

 


Saskatoon residential MLS sales and listings for the week of March 19-25, 2017


 

Inventory levels continued to move higher as we’d expect at this time of year. This morning there are 1864 Saskatoon homes for sale on the multiple listing service®, which is up 27 units from a week earlier, and down just 11 from levels recorded at this time last year. That is the smallest year-over-year decline since late February and it leaves us in a spot where we could easily see annual gains again with one big week. For the first time in months, the number of single-family homes for sale in Saskatoon sits higher than a year ago. Today we have 988 listings in that category, up ten from last year. Condo inventory now sits at 724, down four from this time in 2016.

 


Saskatoon active residential listings on the MLS at March 25, 2017


 

Entry level sales carried the week. In fact, seven residential sales below the $100,000 mark set the stage for one of our lowest weekly median prices this year at just $308,000. With no sales recorded above $635,000 the weekly average also fell lower to $314,465. Meanwhile, the six-week average price of a Saskatoon home slid to $338,366 to finish the week just three thousand dollars lower than it was at the close of the same week last year. The four-week median price managed to make some gains as it grew by twenty-five hundred dollars from the previous week to reach $329,500. This measure lost $2500 on an annual basis.



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

 

Historical 6-week average price for Saskatoon homes sold through the MLS from March 19-25, 2017

 

Historical 4-week median price for Saskatoon homes sold through the MLS from March 19-25, 2017

 

 

Two lucky sellers found themselves managing a bidding war that drove their price higher, one getting just a hundred dollars over list, and the other bagging a bonus of $11,000. On the flip side of the negotiating table, 63 buyers held firm for a discount that averaged $11,707. The remaining seven sales recorded a price that was equal to the seller’s list price.

 

 

Saskatoon real estate statistics for MLS home sales from March 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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It’s starting to look like spring has arrived. With plus zero temperatures predicted for most days over the next couple of weeks, it’s about to get wet. A little preventative maintenance is in order if you’d like to keep the spring melt off from ending up in your basement.

 

Here are our top ten tips to prevent a basement flood.

 

  • Remove snow from around your foundation and window wells.
  • Most lots drain along the outside edges. Remove snow from these areas.
  • Keep the snow in your yard because shoveling it onto streets or lanes could block drainage.
  • Clear snow and ice from around the bottom of your downspouts and extend downspouts at least two metres so water drains away from your foundation.
  • Where possible and safe, help clear snow, ice, and debris from the catch basins in your area.
  • Check your roof and eaves troughs for excessive snow.
  • Consider hiring a professional to clear snow from your roof.
  • A roof rake may help you to clear snow and debris from the edge of your roof.
  • Consider using sandbags to block water from entering low-lying areas beside your foundation.
  • If water is getting close to your foundation, use an appropriate pump to drain it to the gutter or back lane.

Best wishes for a dry spring.

 

Norm

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Saskatoon real estate sales activity continued its up and down dance this week as local agents reported 69 firm residential transactions to our MLS®. That amounts to an increase of 13 sales compared to the previous week and matches production for the same week last year. 

 

The number of new listings added to the multiple listing service® also pushed higher as 178 Saskatoon homes were offered for sale for a weekly gain of 12.  That’s up by just one when compared to the same week a year earlier.

 


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


 

The inventory of active MLS® listings continued to grow as it likely will each week over the next couple of months. This week it climbed by 54 homes and reached 1837, which is a drop of just 30 homes from this time last year. Today there are 958 single-family homes for sale in Saskatoon, 13 fewer than were available a year earlier. Condo inventory sits at 717. That roughly matches levels recorded at the close of the same week last year (down one).

 


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


 

A more typical mix of sales between the entry level and the upper end saw the weekly price numbers looking a bit more typical. The average price paid for a Saskatoon home grew marginally to $342,593 while the weekly median settled at $332,000. A higher weekly median price pushed the four-week median price up three thousand dollars to $327,000 which is lower than it was a year ago by five thousand bucks. The six-week average inched higher growing by less than two hundred dollars from the previous week. It finished the period at $343,016 to take an annual loss of about twelve hundred dollars.

 

 

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

 

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

 

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

 

 

One seller found a buyer willing to pay more than their asking price netting them a bonus of $4100 while seven others bagged a full price offer (In most cases these are new homes, some even reporting a sale price greater than the asking price, but because they’ve typically been on the market for a period of time, I’m assuming that additional value has been negotiated into those final sale prices, and I’m therefore reluctant to call them “overbids” as we would typically think of overbids, where two parties might be bidding up the price in hopes of landing the home). The remaining 62 sales went for less than the list price providing those buyers with an average discount of $11,051.

 

 

Saskatoon real estate statistics for residential MLS® sales from March 12-18, 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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Welcome to 727 Lenore Drive in the Lawson Heights area of Saskatoon.

Offered at $325,000 MLS®

 

View full listing details here.

 

You know the old saying, “the three most important things in real estate are location, location and location" and the current owner has enjoyed this location very much. It’s a pretty easy walk to two great elementary schools and two excellent high schools. Those who like to run, walk or cycle have quick and easy access to Meewasin Trail and the South Saskatchewan River valley where you’ll enjoy some of Saskatoon’s prettiest scenery through all four seasons. A number of good shopping opportunities are easy to get to including the Mall at Lawson Heights, Costco, and even downtown Saskatoon. The home itself has a great yard, beautifully landscaped, and fenced. Inside, you’ll find functional space including hardwood floors through the main living area, and a spacious dining room with patio doors to the rear yard deck, just adjacent to an attractive kitchen with plenty of white European style cabinets. There are three bedrooms and a full four-piece bathroom that was renovated in recent years. The lower level is developed with a spacious and open family room that has large windows and a wood-burning fireplace. Other notable improvements include new eavestroughs and downspouts (last year) and a number of cool tech features like a Nest thermostat and smoke detectors, a Kevo keyless entry system and a wifi garage door opener. .

 

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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On the heels of the most productive sales week this year, Saskatoon real estate sales softened. Local agents reported just 53 firm residential deals to the multiple listing service® which is down from 72 last week. During the same week a year ago 75 Saskatoon homes traded hands. 

 

Meanwhile, the number of new listings added to the MLS® also fell lower to 166. That’s well below the 234 homes that came onto the market last week, and just marginally lower than the 169 homes listed over the same period last year.

 

 

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

 

 

The number of Saskatoon homes listed for sale on the multiple listing service® gained some ground as it climbed by 45 units this week to reach 1783, down from 1832 a year earlier. Today’s totals show 937 single-family homes for sale, down just slightly from 955 at the close of the same week in 2016. Condo inventory sits at 694 today for an increase of just four from a week earlier, and down by 14 from a year ago.

 


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


 

You may recall that a solid chunk of last week’s market was at the upper-end of the value range. That pushed the weekly average and median prices much higher. With more than ten percent of this week’s sales exceeding $500,000 there was no lack of upper-end activity but with 22 sales below the $300,000 mark, both the weekly average and the weekly median fell sharply lower to $339,949 and $315,000 respectively. The longer term measures held their ground with the six-week average slipping just a thousand dollars to $342,847 to claim an annual increase of roughly seven thousand dollars. The four-week median price fell twice as much from the previous week to settle at $324,000 which is down just $1000 from a year earlier.

 

 

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

 

Historical six-week average price of Saskatoon homes sold through the MLS® from March 5-11, 2017

 

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

 

 

Overbid action was shut out again. I think that’s five or six weeks now since anyone paid more than asking price but seven sellers did get full price offers, all of those new homes. The remaining 47 deals closed at a price that was less than the seller had asked delivering an average discount of $13,743.

 

 

Saskatoon real estate statistics for residential MLS® sales from March 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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The Saskatoon home market is showing positive signs in a few of the key areas. “There are a few key statistics that we watch ever month to get a sense of where our market is at and where it may be headed,” says Jason Yochim, CEO of the Saskatoon Region Association of REALTORS® .“We keep a close eye on the number of transactions, the inventory levels and the change in pricing," he adds. 


In February, there were 229 residential sales recorded, up marginally from 226 for the same month in 2016.  Year-to-date, Saskatoon home sales are up four percent compared to the same period in 2016 with 558 unit sales. This is comparable to the number of home sales in 2015. The total dollar volume of those sales was just over $186 million, representing a two percent increase over last year. 

 

 

Saskatoon residential sales through the MLS® for the month of February, 2017

 

Saskatoon single-family home sales through the MLS® for the month of February, 2017

 

Saskatoon condominium sales through the MLS® for the month of February, 2017

 


At the end of February, the inventory of available residential properties on the MLS® system in Saskatoon was 1,659 units, 5.4 percent lower than it was at the same time last year. The lower inventory levels are largely due to a significant drop in the number of new listings added to the MLS® system. So far this year, there have been 1,337 new listings added to the system compared to 1,410 last year. When comparing new listings for the last month, there were 15.7 percent fewer properties added to the market this February than there were last February.


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


New Saskatoon real estate listings processed by the Saskatoon MLS® in February, 2017



A decline in new listings coupled with an increase in sales resulted in a sales-to-listing ratio (new listings/sales) of 37.4 percent in February. This is a significant improvement from last February when this ratio was 30.9 percent. A market with a sales-to-listing ratio below 40 percent is considered to be a solid buyers market but this indicates a positive move towards a more balanced market. “Although we are seeing these positive indicators quite early on, these statistics indicate a shift in the marketplace in a positive direction,” comments Yochim. 

Home prices remain relatively unchanged year-to-date with the average price down a mere 0.7 percent to just under $340,000. The median price of $320,000 represents a slight drop of 1.6 percent, year-over-year. The Home Price Index (HPI) is considered to be the most accurate measure of home values and where the market prices are trending. The HPI composite price is an aggregate of various residential home types in a particular market and is a measurement of change in value over time. A composite value was established with a base year and has been indexed on a monthly basis. The composite value in February was $297,900 representing a 1.2 percent decrease from a year ago. This value had been on a downward trend since mid-2016, which is not surprising considering elevated inventory levels through the year and a buyer’s market.



Average price of a Saskatoon home for February, 2017


MLS Home Price Index - Benchmark values for Saskatoon single-family homes in February, 2017


MLS Home Price Index - Benchmark values for Saskatoon townhouses in February, 2017


MLS Home Price Index - Benchmark values for Saskatoon apartments in February, 2017



The average number of days for a home to sell in Saskatoon was 54. This is only slightly longer than in February 2016 when the average was 52 days. Homes are selling at 97 percent of their asking price, which is consistent with last year. 

“The best advice I can give a seller in any market is to get professional advice when dealing with your largest asset,” adds Yochim. 

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

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It was a busy week for Saskatoon real estate agents. Residential sales reached their highest point since late October of last year as agents reported 75 firm deals to the multiple listing service® for a weekly increase of 23 properties. Sales were also well up from the same week last year when just 54 deals firmed up. New listings also came on strong as they often do during the first week of the month when listings that met the end of their term without a sale the previous week rush back on the market for another go. Total new listings came in at 243, which is up nearly one hundred units from the week before, but down by 11 compared to the same period last year.

 

 

Saskatoon residential MLS ® sales and new listings for the week of February 26 - March 3, 2017

 

 

The inventory of Saskatoon homes for sale on the MLS® system inched higher this week as it grew by just 17 units from a week ago to reach 1738. At the close of the same week last year there were 1811 active residential listings on the system. This is the fourth consecutive week that active listings have come in below levels recorded the previous year. This fourth annual decline produced the largest year-over-year drop since late October of last year. As of this morning, there are 897 single-family homes for sale on the multiple listing service®. That’s up three from a week earlier, and down 40 from last year. Condo inventory is at 690 today, up seven from a last week and down twelve on an annual basis.

 


Active residential listings on the Saskatoon MLS® at March 3, 2017


 

Following a few weeks during which entry level buyers dominated the sales activity, upper-end home buyers showed up this week and drove all of our price measures higher. First, the weekly median grew by nearly 60K to hit $373,000 while the weekly average picked up about 30K as it soared to $371,452 thanks to 13 sales that produced a sale price of $500,000 or more. The six-week average price edged higher and grew by about four thousand dollars from the close of the previous week. That brought it to $343,807 which is up eighty-five hundred dollars from a year earlier. The four-week median price grew 10K to hit $326,000  for an annual increase of six thousand dollars.

 


Average and median prices for Saskatoon homes sold through the MLS® from February 26 - March 3, 2017


Historical six-week average price of Saskatoon homes sold through the MLS® from February 26 - March 3, 2017


Historical four-week median price of Saskatoon homes sold through the MLS for the week of February 26 - March 3, 2017


 

Once again, sellers were shut out of overbid situations, even as some listings generated multiple offers. There were eight deals reported to have sold at the asking price. Meanwhile, 67 Saskatoon home buyers ground themselves a discount that averaged $13,708. The largest discount this week was recorded on a Rosewood area bi-level that sold for $85,000 below list price after more than seven months on the market.

 


Saskatoon real estate statistics for residential MLS® sales from February 26 - March 3, 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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