Saskatoon real estate sales fell further this week taking their fifth consecutive weekly slide to reach their lowest point since January of this year. Local REALTORS® reported just 50 house and condo sales to the multiple listing service® for a weekly decline of 13 units and a drop of 20 when compared against sales recorded during the same period last year. New listings edged higher as 91 houses and condominiums were added to the  Saskatoon MLS® inventory, up 11 from the previous week and ahead of last year’s number by 20 homes.

A fairly high number of cancelled listings kept the inventory of Saskatoon MLS® listings from reversing its six week trend of moving lower. The declines were kept to a loss of just four units from the totals. At the close of the week there were 1062 active MLS® listings in the residential category. That’s roughly 60 fewer units than could be found on the system a year ago. At this time there are 625 single-family homes and 337 condominiums for sale in Saskatoon. Last year at this time, single-family homes stood at 668 and condo inventory was at 383.

A near absence of luxury home sales brought the median sale price for a Saskatoon home lower this week by about eighty-five hundred dollars to just $314,000. The average sale price of a home fell further dropping more than 40K from the previous week to just $319,354. The six-week average sale price slipped about fifteen hundred dollars from last week to close the week at $336,065 for an annual gain of about eleven thousand dollars. The four-week median actually finished ahead of last week by two thousand dollars. It closed the week at $324,500 up nineteen thousand dollars from the same week a year ago.

Overbid sales fell to just one home. The seller netted an additional $1,100 on top of their asking price. Another ten buyers paid full price to close a deal on the home that they wanted. Meanwhile, 39 buyers ground their seller for a bit of a deal and picked up a discount averaging $9,265.

Other notable MLS® activity this week included 43 cancelled and withdrawn listings, 20 expired listings and 20 price adjustments.

Highlights from the news this past week

Mortgage crackdown threatens economy - CBC News 

What happens when the buyer backs out of a home sale - CTV News

Canadian homes are getting more affordable - Financial Post

A map displaying the boundaries of Saskatoon real estate areas is here.

An overview of data collection and calculation practices for our statistical reports is here.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here now.

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

Saskatoon real estate sales continued to trend lower as is typical at this time of year. Home sales slowed to see just 63 houses and condos trade through the Saskatoon multiple listing service®, down six from the previous week to handily beat sales for the same period a year ago by 13.  New listings followed along and slipped to their lowest point for any week this year as just 80 propertied were added to the MLS® system. That number is lower than last week by 19 but ahead of the same week last year when just 73 homes were brought to the market.

At the same time, the  inventory of Saskatoon MLS® listings in the residential category continued to lighten modestly as it fell just nine units compared to its close one week ago and reached 1066, its lowest level since April. That number is down about nine percent from where it sat at this point in 2011 when 1149 properties displayed an active status on the Saskatoon multiple listing service®. Today there are 634 single-family home listings and 343 condominiums available to home buyers. Those two categories of residential real estate stood at 686 and 397 respectively, exactly one year ago.

Encouraged by some big sales at the upper end of the market, the average sale price of a Saskatoon home took a big jump this week and reached $360,436. The median price moved in the same direction but strong activity (unit sale numbers) at the entry to mid-level of the market kept it from catapulting like the average. It crept up just four thousand dollars to $322,500. Meanwhile, the six-week average selling price of a Saskatoon home saw its first downturn in a few weeks as it slipped by nearly three thousand dollars to $337,574 to finish about twelve thousand dollars higher than it did at the close of the same week last year. The four-week median price edged up about twenty-five hundred dollars from a week ago to finish this week at $322,500. At the same point in 2011 the four-week median was at $300K even. That’s the largest year-over-year gain we’ve seen in several weeks now.

Overbid sales remained steady with the previous week at just two, but the average overbid slipped lower to just $100. Another ten home buyers stepped up with an offer of full list price while 51 of this week’s 63 deals closed below the asking price by an average of $10,560.

Other notable MLS® activity this week included 30 cancelled and withdrawn listings, 10 expired listings and 31 price adjustments.

Highlights from the news this past week

Remax predicts modest increase for house prices in 2013 - Star Phoenix

Canada’s home sales cool: How bad is your market? - Financial Post

Home sales slow but market expected to remain stable - Globe and Mail

Housing market remains stable in Saskatoon - Star Phoenix

Home sales dip slightly in October - Globe and Mail

A map displaying the boundaries of Saskatoon real estate areas is here.

An overview of data collection and calculation practices for our statistical reports is here.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here now.

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

Have you seen the movie Groundhog Day? Well, this was groundhog week for the Saskatoon real estate market which performed at about the same level as the previous week for new listings and home sales. Local agents reported 69 house and condo sales to the Saskatoon multiple listing service® to match last week’s production. Those numbers did outperform the those reported during the same week a year ago when just 55 buyers and sellers firmed up a deal on a Saskatoon home. New listings came in at 99 for the week, up one from the previous week but ahead of the same period last year when just 83 properties came on the market.

The  inventory of Saskatoon MLS® listings in the residential category continued to trail lower for the fourth consecutive week. It fell by 17 units compared to the close of the previous week and reached 1075, lower than it was at this time a year ago by about 100 homes. Today’s inventory shows 642 single-family dwellings (houses) and just 346 condos, down from 701 and 402 a year ago.

Fewer high end home sales saw the median sale price of a Saskatoon home fall more than $20K this week to $322,300. The average sale price slid nearly twice as much closing the week at $325,282. Meanwhile, the six-week average sale price managed a bit of an increase as it climbed nearly four thousand dollars compared to the previous week to reach $340,326. That number is just shy of being ten thousand dollars up on the same week last year. At the same time, the four-week median price fell by just more than three thousand dollars over the course of the week. It finished at $319,500 for a year-over-year increase similar to that of the six-week average price.

Overbid sales fell lower again as just two Saskatoon home sellers managed a bidding war to jack up the final price of their sale. Those deals averaged a bonus of $5,700 for the seller. Another nine sellers found a buyer willing to pay their full asking price while 58 of this week’s 69 sales required some give and take with the buyer netting an average discount of $9,755.

Other notable MLS® activity this week included 46 cancelled and withdrawn listings, 14 expired listings and 35 price adjustments.

Highlights from the news this past week

Canada braces as housing slowdown takes hold - Financial Post

Will inflation keep boosting house prices? Don’t bet on it - Globe and Mail

Canada housing starts to moderate, resales stable: CMHC - Reuters Canada

Canada’s home prices seen falling but no U.S. style collapse - Globe and Mail

Canada’s home prices seen falling, not crashing - Financial Post

Household debt growth at ten year low: Are we getting the message? - Globe and Mail

A map displaying the boundaries of Saskatoon real estate areas is here.

An overview of data collection and calculation practices for our statistical reports is here.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here now.

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

The Saskatoon real estate market continued to show signs of life this week even as the weather cooled. Local agents brought 68 firm house and condominium sales to the multiple listing service® . That number is down eight units from the previous week and up seven sales when compared against the same week last year. Meanwhile, new listings continued to show signs of slowing for the winter. Just 98 properties were offered up for sale on the system this week.

A good handful of MLS®  listings which expired at the end of October brought the inventory of residential real estate listings on the Saskatoon multiple listing service® below 1100 for the first time since April of this year. As the week drew to a close buyers had a total of 1092 active property listings to choose from, down just 24 from last week’s close and below last year’s totals by 69 homes. Today’s search of Saskatoon homes for sale yields 662 houses and 351 condos showing an active status. Lat year at this time those two categories of Saskatoon housing sat at 698 and 390 respectively.

The median sale price (price point at which half of all sales eclipsed, and the other half fell below) of a Saskatoon homes spiked nearly 45K to $346,000. The average sale price followed along moving higher than the previous week by forty thousand dollars to close at $359,622. The six-week average sale price saw its largest increase in months as it surged higher by more than ten thousand dollars to reach $336,569, up from $325,972 a year ago. The four-week median price inched up gaining two thousand dollars over the week to hit $323,200. That’s up about twelve thousand dollars from the close of the same week last year.

After two weeks without a single overbid sale, this rare beast made a bit of a comeback as six Saskatoon home sellers netted a higher sale price than they had been asking by an average of  $5,467. Another 13 buyers offered full asking price for the home that they bought while 50 of this week’s sales wrapped up at the negotiating table and netted the buyer an average discount of $8,198.

Other notable MLS® activity this week included 33 cancelled and withdrawn listings, 62 expired listings and 32 price adjustments.

Highlights from the news this past week

How house prices depend on demographics - Financial Post

Using your home as a nest egg is risky business: BMO - Globe and Mail

House flippers beware: You can’t always sell your residence tax free - Globe and Mail

Buffet bets on housing recovery - Star Phoenix

Dundee bets on Canada’s housing market with new deal - Financial Post

Canada’s housing market: Is it cooling or crashing - MacLean’s

Buffet teams up with Brookfield on huge bet on US housing - Financial Post

More employment records set in Sask in October - Gov’t of Saskatchewan

A map displaying the boundaries of Saskatoon real estate areas is here.

An overview of data collection and calculation practices for our statistical reports is here.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here now.

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