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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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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Sales and listing activity were both brisk for the Saskatoon real estate market this week. Local agents reported 56 firm residential deals to the multiple listing service®, well up from 39 last week, and enough to finish ahead of the same week last year by three. New listings slipped lower from 167 Saskatoon homes last week to 143 for this week, 13 fewer homes than were added to the MLS® during the same period a year earlier.


 

Residential sales and listing activity from the Saskatoon MLS for the week of January 22-28, 2017

 

 

For the second week in a row, the total number of Saskatoon homes for sale on the MLS® was up year-over-year. Not by much, but up. Total active listings in the residential category sit at 1627 this morning, for a gain of nine compared to last week’s close, and up just three from the count at the close of the same week a year ago. The number of single-family homes for sale in the city is actually down annually from 884 to 856. The selection of condos, on the other hand, is up from 585 a year ago to 627 today.

 

 

Active Saskatoon residential MLS listings for the week of January 22-28, 2017

 

 

Four pretty big transactions including the first residential sale in 2017 to top one-million dollars added nearly $3.5 million to the total dollar volume of sales and pushed the average price for the week up close to ten thousand dollars as it reached $343,853. Still, the weekly median price moved in the opposite direction as buyers who favoured the lower end of the Saskatoon real estate market were most active. That measure came in at just $314,500. Meanwhile, the longer-term measures both made gains as the six-week average price of a Saskatoon home took a solid jump to $340,590 but closed the week down on a year-over-year basis by thirteen thousand dollars. The four-week median price edged up to $337,386 to find itself short of last year’s number by just six hundred bucks.

 

 

Average and median prices for Saskatoon homes sold MLS for the week of January 22-28, 2017

 

Historical six-week average price for Saskatoon homes sold MLS through the week of January 22-28, 2017

 

Historical four-week median price for Saskatoon homes sold MLS through the week of January 22-28, 2017

 

 

 

 

While six sellers did close a deal at their asking price, just one found a buyer willing to pay more. That sale went down in area four and netted the seller a bonus of two thousand dollars. Over the week, 49 buyers managed to grind their seller to pick up an average discount of $16,045. The number was seriously skewed by two sales, both at the upper end of market prices for the week and both selling 100K below the asking price. Spread across the 49 deals, those two huge discounts are driving the average up by nearly $4,100.00.

 

 

Saskatoon residential sales and listing statistics for the week of January 22-28, 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 number of firm Saskatoon real estate sales took a small dip this week as local agent reported just 39 residential trades, a decline of three from the previous week, and seven fewer than we saw during the same period of 2016. Meanwhile, the number of Saskatoon homes that were listed for sale inched down by one this week to 167 to finish well above last year’s number of just 136.

 

Residential sales and listing activity from the Saskatoon MLS for the week of January 15-21, 2017

 

Softer sales and more new listings meant higher inventory numbers. By this morning, the total number of residential properties for sale on the multiple listing service® reached 1618, up 48 from a week earlier, leaving us up over last year by seven homes. All of the gains can be attributed to the condominium category which saw its numbers grow from 575 a year ago to 626 today. The number of single-family homes for sale has slipped lower to 850 from 881 at this time last year.

 

Active residential MLS listings for the week of January 15-21, 2017

 

With some continued softness at the upper end of the Saskatoon real estate market (only one sale above the $500,000 mark this week), the average price of a local home slipped to $335,654 even as the weekly median price grew to $322,000. The longer term measures both moved lower as the six-week average price dropped by nearly three thousand dollars to $335,671 which is down about 10K from the close of the same week last year. The four-week median took a solid dive to just $316,000 to find its lowest point in well over a year. It finished the week down from a  year ago by fifteen thousand and five hundred dollars.

 

Average and median prices for Saskatoon homes sold MLS for the week of January 15-21, 2017

 

Historical six-week average price for homes sold MLS through the week of January 15-21, 2017

 

Historical four-week median price for homes sold MLS through the week of January 15-21, 2017

 

Competitive bidding picked up a bit as three Saskatoon home sellers found a buyer willing to pay more than their asking price to deliver an average overbid of $2,733. On the other side of the negotiating table, 31 buyers ground themselves a discount that averaged $9,447. That’s lower than last week by about six thousand dollars. The other five deals closed at the full asking price.

 

Saskatoon residential sales and listing Activity for the week of January 15-21, 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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View full listing details here.

Offered at $1,123,800 MLS® 

Welcome to 538 Hartley Terrace in the Stonebridge area of Saskatoon. You won’t live here long before you get the feeling that this house knows what you need and when you need it. It delivers with a full Control Four system to bring your family the ultimate in comfort all day, and all night. Lights, security, media…effortlessly controlled and enjoyed. This home is built for people…people who love people. It’s an entertainer’s dream with an open main floor living area featuring ten-foot ceilings, a stunning kitchen, and gorgeous Brazilian Cherry hardwood floors. The real prize is the location and the expansive view you’ll enjoy daily overlooking Howard Harding Park, its beautiful lake and the spectacular homes that surround it. Simply breathtaking. The view is easy to enjoy from nearly anywhere on the main level and much of the walkout basement but we expect you’ll prefer to take it in from outside. In a yard like we’ve never seen, you’ll start your days watching the sunrise as nature awakes before you. Enjoy breakfast by your private creek. Bask in an abundance of natural light and warmth all day, then escape to the shade later when you’re likely to be preparing dinner in the outdoor cooking area. This story continues with our images and 3D tour.

 

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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Saskatoon real estate activity showed some signs of life this past week as the number of local homes that traded began its slow seasonal climb. There were 42 firm residential sales reported to the Saskatoon MLS®, an increase of 12 from the previous week, and up by one when looking back at the same week last year. Sales activity remained in single digit territory in all but one of the five major housing areas, with area three seeing a single sale for the second week in a row. After opening 2017 with some really big numbers last week, new listings fell lower to 168 homes, down 52 on a weekly basis. That was, however, enough for an annual increase of nine listings.

 

Saskatoon residential sales and listing Activity for the week of January 8-14, 2017

 

The inventory of active Saskatoon real estate listings also pushed higher, as it will now during most weeks over the first half of the year as it moves towards its annual peak. Today’s totals show 1570 residential properties with an “active” status, down from a year earlier by just eight homes. We currently have 827 properties in the single-family category, down from 875 a year ago, and 605 condominium listings, up from 539 at this time last year.

 

Active residential MLS listings for the week of January 8-14, 2017

 

The median sale price for the week gained some ground coming in 25K higher than the previous week at $314,500. The average sale price for the week also moved up and finished the week at $337,970. Meanwhile, the longer term measures that we track both edged lower from last week. The six-week average price slipped just a few hundred dollars to $338,546 to find itself down on an annual basis by close to sixteen thousand dollars.  The four-week median price fell nearly three thousand dollars for the week but finished ahead of where it was a year ago by forty-five hundred dollars.

 

Average and median prices for Saskatoon homes sold MLS for the week of January 8-14, 2017

 

Historical six-week average price for homes sold MLS through the week of January 8-14, 2017

 

Historical four-week median price for homes sold MLS through the week of January 8-14, 2017

 

 

Following several weeks with no overbid sales, that seller losing streak was broken this week as a single area four home fetched $1,100 more than the asking price in some kind of a bidding war. Another two sellers snagged a list price sale, both of those properties were new homes. The remaining 39 deals closed below the asking price netting those buyers some hefty discounts averaging $15,760.

 

Summary of Saskatoon real estate activity for homes sold and listed MLS for the week of January 8-14, 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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You may have read the Star Phoenix story in yesterday’s paper regarding two tenants of the Barry Hotel who successfully appealed their eviction notices allowing them to continue to reside there until May 31. It’s important for tenants and landlords to understand their rights and their obligations when it comes to the termination of a tenancy. Here’s a quick look at the legislation as outlined in the Residential Tenancies Act.

 

Under Section 60 of the new Residential Tenancies Act:


A landlord may end a periodic tenancy respecting a rental unit if:

 

(a) the landlord enters into an agreement in good faith to sell the rental unit;

(b) all the conditions on which the sale depends have been satisfied; and

(c) the purchaser asks the landlord, in writing, to give notice to end the

tenancy on one of the following grounds:

(i) the purchaser is an individual and the purchaser, or a close family

member or friend of the purchaser, intends in good faith to occupy the

rental unit;

(ii) the purchaser is a family corporation and an individual owning

voting shares in the corporation, or a close family member or friend of

that individual, intends in good faith to occupy the rental unit.

 

A landlord may end a periodic tenancy respecting a rental unit if the landlord has all the necessary permits and approvals required by law, and intends in good faith, to do any of the following:

 

(a) demolish the rental unit;

(b) renovate or repair the rental unit in a manner that requires the rental unit to be vacant;

(c) convert the residential property to condominiums pursuant to The CondominiumProperty Act, 1993;

(d) convert the residential property into a continuing housing co-operative as defined inThe Co-operatives Act, 1996;

(e) convert the rental unit for use by a caretaker, manager or superintendent of theresidential property;

(f) convert the rental unit to a non-residential use.

Also under Section 60:

(8) A notice pursuant to this section must comply with section 63.

(9) A tenant may dispute a notice pursuant to this section by applying for an order pursuant to section 70 within 15 days after the date the tenant receives the notice.

(10) If a tenant who has received a notice pursuant to this section does not apply for an order pursuant to subsection (9), the tenant:

(a) is deemed to have accepted that the tenancy ends on the effective date of the notice; and

(b) must vacate the rental unit by that date.

 

Regarding proper notice, Section 63 states:

 

To be effective, a notice to end a tenancy must be in writing and must:

 

(a) be dated and identified as originating from the landlord or tenant giving the notice;

(b) give the address of the rental unit;

(c) state the effective date of the end of the tenancy;

(d) state the grounds for ending the tenancy; and

(e) when given by a landlord, be in the approved form.”

 

Additional Tenant Rights

 

Having received a notice of a termination of the tenancy, a tenant has the additional right to end the tenancy earlier by giving the landlord at least 10days written notice and paying the proportionate amount of rent.

 

In the event that the landlord does not carry out the intended purpose stated in the Notice, a tenant may seek compensation for having moved.


form which is approved for use can be found here on the province’s Justice and Attorney General website.

 

Norm Fisher
Royal LePage Vidorra

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The educational model for becoming a real estate agent in the province of Saskatchewan changed on July 1, 2014. This post outlines the new requirements for entry with the most recent costs.

 

All requirements and prices are valid at the date of publication and are subject to change, without notice, at the discretion of the organizations and associations responsible.

 

Provincial legislation in Saskatchewan states that anyone wishing to represent members of the public in a real estate trade in Saskatchewan must be registered. The Saskatchewan Real Estate Commission(SREC), an independent, non-government agency, responsible for regulating the real estate industry in Saskatchewan, mandates qualifications for registration.

 

First of all, people wishing to become registered to trade in real estate as a sales person must have completed Grade 12, or equivalent.

 

Secondly, prospective registrants must complete a home study course known as Real Estate as a Professional Career, which is offered by the Association of Saskatchewan Realtors® (ASR). Enrolled students have one full year to complete the program. Before the conclusion of the one-year period they must present themselves for an examination and obtain a mark of at least 70%.

 

Once they have completed Real Estate as a Professional Career, prospective registrants must complete the following specialty courses.

 

  • Residential Real Estate as a Professional Career
  • Commercial Real Estate as a Professional Career
  • Farm Real Estate as a Professional Career

All three of the specialty programs are offered by the ASR on a home study basis. Enrolled students have two full years to complete all three specialty programs. Before the conclusion of the two-year period they must present themselves for an examination on each program and obtain a mark of at least 70%. Students wishing to practice in the field of property management must also complete the following course. The cost of this course is the same as the other three specialty courses outlined below.

 

  • Property Management as a Professional Career

Once a person completes the mandatory courses they qualify to apply for registration to trade in real estate within the province of Saskatchewan. An application for registration as a licensed salesperson, signed by an employing broker, must be made to the SREC within two years of successfully completing the chosen specialty course. Applicants must produce proof of having obtained a Grade 12 or equivalent, and a completed criminal record check.

 

      Cost
MandatoryEducational Courses      
Real Estate as a Professional Career     $1,399.00
Examination Fee (first attempt in included - $155 for additional)     0
Residential Real Estate as a Professional Career     $799.00
Examination Fee (first attempt in included - $155 for additional)     0
Commercial Real Estate as a Professional Career     $799.00
Examination Fee (first attempt in included - $155 for additional)     0
Farm Real Estate as a Professional Career     $799.00
Examination Fee (first attempt in included - $155 for additional)     0
Total Cost for Mandatory Educational Courses     $3,796.00
       
Provincial Licensing and Related      
Registration for Salesperson License     $330.00
Mandatory Errors and Omissions Premium     $255.00
Real Estate Assurance Fund Levy     $100.00
Total Cost for Provincial Licensing and Related     $685.00
       
Other Incidental Costs      
Criminal record check     $25.00
       
Total estimated cost to become a real estate agent in SK.     $4,506.00

 

You can register for these courses online or at the office of the Association of Saskatchewan REALTORS® located at 2811 Estey Drive in Saskatoon. In addition, within each one-year registration renewal period, all registrants are required to complete mandatory continuing education known as the Continuing Professional Development (CPD) Program approved by the Commission and provided by the ASR.

Becoming a REALTOR®

The majority of the real estate companies in Saskatchewan, particularly those located in the urban areas are REALTORS®, and all of the sales people that they employ must also be REALTORS®. In addition to expanding the potential opportunities that might exist for a real estate registrant, choosing to practice as a REALTOR® also provides access to the Multiple Listing Service® (MLS®), a sophisticated system for sharing property information and commissions with other REALTOR® members. In a nutshell, the MLS® provides agents with easy access to a large inventory of homes for sale, and access to a large number of sales people for the homes an agent may have listed for sale. Agents use this system to cooperate with each other for the aforementioned benefits and typically share commissions when they successfully bring a buyer and seller together to complete a real estate transaction.

 

Becoming a REALTOR® requires a registrant to become a member of the Saskatoon Region Association of Realtors®, the Association of Saskatchewan Realtors®, and the Canadian Real Estate Association(CREA). Members must commit to conduct their business in accordance with the rules and regulations of each organization, and the Code of Ethics of the CREA. Here are the costs associated with becoming a member of these organizations.

 

      Total
       
Real Estate Association Joining Dues      
Saskatoon Region Association of REALTORS®     $315.00
Association of Saskatchewan REALTORS®     $346.50
Canadian Real Estate Association     $210.00
Total Cost for Real Estate Association Joining Dues     $840.00
       
Annual Real Estate Association Dues      
Saskatoon Region Association of REALTORS®     $52.50
Association of Saskatchewan REALTORS®     $346.50
Canadian Real Estate Association (Annual dues & tech fee)     $325.50
Total Cost for Annual Real Estate Association Dues     $724.50
       
Post Licensing Education Requirements      
Saskatoon Region Association of REALTORS® New Member Course     $576.45
       
Total additional costs to become a REALTOR®     $2,140.95

 

That’s a brief overview of what it takes to become a real estate agent in Saskatchewan, and to become a REALTOR® in Saskatoon. If you have questions, or are interested in exploring a career in Saskatoon real estate I’d be happy to hear from you. My contact information is here.

Other resources

Association of Saskatchewan Realtors® website Association of Saskatchewan REALTORS Career Guide (a must read) Saskatchewan Real Estate Commission website Canadian Real Estate Association website Royal LePage Real Estate Career website Please note that the estimated costs outlined above were valid at the date of publication and are subject to change, without notice, at the discretion of the billing organizations.

 

Norm Fisher

Royal LePage Vidorra

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The first week of 2017 is in the bag and activity was pretty fierce, at least on the new listing side. Saskatoon real estate agents brought in 196 residential properties to be added to the multiple listing service®, which is well up from the previous week during which just 20 homes were listed for sale. The first week of the month is always a strong listing week as those listings that expired without a sale at month end come back for another go. During the same week last year, 220 new listings hit the market. On the other hand, residential sales grew from 26 the previous week to 30 by the time the MLS® closed on Friday. That number is down by five when compared against the same week last year.

 

Saskatoon real estate sales and listings for the week of January 1-7, 2017

 

I mentioned last week that the gap we had been seeing in the year-over-year inventory measure has been getting smaller and smaller each week. Today, it’s nearly gone. As of this morning, there are 1537 active residential listing for sale on the MLS®, down just five from the close of the same week last year. Single-family homes inventory is lower by 56 units from a year ago at 805. Condo inventory is sharply higher, once again. They sit at 600 units today, up from 520 a year earlier.

 

Active Saskatoon real estate listings for the week of January 1-7, 2017

 

The price measures are always a bit wonky when we are looking at such low volume weeks. Throw in an additional hand full of sales towards the lower end of the market and we see both the median price and the average price for the week fall to $291,250 and $330,443 respectively. While the six-week average price was down from last week by just a few hundred dollars, it plummeted pretty hard on an annual basis falling from $359,393 last year to $338,991 this week. The four-week median price moved lower by about six thousand dollars from last week to close at $331,850. That’s down just a bit from $333,500 at the close of the same week a year ago.


Six week average and four week median prices of Saskatoon homes


Historical six week average prices of Saskatoon homes


Historical four week median prices of Saskatoon homes

 

 

The total shut-out on overbid sales continued this week. While five sellers did manage to close a full price deal, the other 25 had to give up some dough and adjusted their expectations for an average discount of $14,956.


Residential sales and listing activity from the Saskatoon MLS for the week of January 1-7, 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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Happy new year!

 

As always, the closing week of the year was one of the slowest of the year for unit sales. On the brighter side, this quiet period does typically mark the end of the declining sales cycle, and from here we can expect slow and steady increases until the market reaches its peak sales week in either April, May or June. This past week, Saskatoon real estate agents reported just 26 firm residential sales to the multiple listing service®, down 20 from the previous week, a drop of two from the closing week of 2015. New listing activity was also predictably soft with just 20 new listings being added to the MLS® for a weekly decline of 50 units. That’s also 28 fewer listings than were added during the same week last year.

 

 

There are some interesting changes to report on the inventory front. For the first time since mid-August, the total number of Saskatoon homes available for purchase on the local MLS® system finished higher that it was a year earlier. It’s worth noting that the closing week of 2015 actually ended on January 2 so all of the month end expired listings had already come out of the totals. Still, even if all of the 112 MLS listings that are scheduled to expire today actually do expire (assuming some are not extended for a longer period before they expire) we are up on an annual basis. Today there are 1560 active residential listings on the system. At the close of this week last year those numbers had fallen to 1432. Today’s inventory includes 820 single-family homes, up from 806 a year ago. There are presently 606 active condo listings, well ahead of the 480 that could be found on the MLS at the close of the year’s final week of 2015.

 

 

Like the previous week, upper-end real estate sales carried the day. They also carried average prices for the week substantially higher. Obviously, with just 26 sales, a few big ones can really skew the data. Even while the weekly median price managed to fall lower to $331,900 the weekly average price of the homes that traded was a whopping $394,969 which is higher than it has been during any week this year. The six-week average price dropped two thousand dollars from last week to $339,630 and finished the year down by about 15K from a year ago. The four-week median price grew by $2400 from a week earlier to $338,000 and closed the year two thousand dollars behind annually.

 

 

 

 

While two sellers were lucky enough to find a buyer willing to pay their asking price, the remaining 24 had to give up some cash to close their deal. Those transactions came in below the asking price by an average of $12,976.

 

 

As we wrap up 2016, I’d like to thank those who took the time to show up here for updates on our market. I’m especially pleased that so many of you turned to us for some guidance in getting your home sold this year. It really has been a great pleasure to serve you, even during one of our more challenging markets. I expect 2017 to continue to be an uphill battle for sellers but we will continue to show up daily and do the work.

 

Once again, happy new year to you and yours.

 

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 The Cayman Condominiums in the Erindale area of Saskatoon.

Starting at $260,000 MLS®

 

It’s not easy making headway in today’s rapidly changing world but you won’t get ahead doing yard work, that’s for sure. You do need some down time to re-charge and it may as well be comfortable. You’ve earned that.

 

Welcome to the Cayman Condominiums. Located at 502 Perehudoff Crescent in Erindale, these beautiful homes offer easy access to the university, downtown Saskatoon and a host of local amenities in neighbouring University Heights.

 

The condos are well built and nicely finished, inside and out. Acrylic stucco exteriors provide great looks and years of easy maintenance, while the large windows deliver bright interiors. Wonderfully open designs that are perfect for entertaining guests, or just unwinding after a long day. Modern finishes. Sleek and stylish kitchens with granite or quartz counter tops and stainless steel appliances will have your guests saying, “wow!” Simply gorgeous. Individually controlled gas furnaces and air conditioning units allow you to decide what’s comfortable. Private balconies. In-suite laundry. Underground parking. It’s all here waiting for you to come home.

 

Four units to choose from.

 

Unit #115 - $260,000 MLS®

Unit #215 - $260,000 MLS®

Unit #216 - $300,000 MLS®

Unit #113 - $310,000 MLS®

 

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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