Saskatoon home sales slipped lower again for the second week in row. Local real estate agents reported a total of 71 house and condominium sales to the Saskatoon multiple listing service® this week, down eight units from the previous week to fall well short of numbers recorded during the same period last year when 113 Saskatoon homes traded hands.

New listings also cooled considerably as numbers fell to their lowest point in six weeks to fall short of 100. This week saw 98 new listings of houses and condos added top the MLS®, down 25 properties from last week and below the number of new listings introduced over the same week last year by 17.

MLS® inventory in the residential category made small gains growing by just 14 units compared to the close of the previous week to reach 1057 for a year-over-year increase of 26 properties. Today’s totals show 655 single family homes and 319 condominiums with an active status on the multiple listing service. At this same point in 2012 those two categories of Saskatoon housing stood at 609 and 336, respectively.

The average sale price of a Saskatoon home inched up to $331,943 this week while the median price paid came off of last week’s upward surge and fell to $317,500. The longer term measures showed little change and struggled to maintain year-over-gains which have been largely commonplace for what seems like forever. The six-week average price dropped four hundred dollars from the previous week to settle at $331,442 which is up on the close of the same week last year by just $235. The four-week median slipped five hundred dollars compared to last week to reach $318,500 and maintain an annual gain of just $6,500.

Overbid Saskatoon real estate sales came in at just five. Those buyers paid, on average, an additional $4,680 to secure the home they wanted. Another eight buyers offered the full asking price to close their deal. The remaining 58 closed transactions were reported to have sold below the seller’s asking price by an average of $8,850.

Other notable MLS® activity this week included 29 cancelled and withdrawn listings, four expired listings and 19 price adjustments.

Highlights from the news this past week

Where do mortgage rates go from here? - Financial Post

Fewer Canadians plan to buy as housing markets cool - Financial Post

What’s next for Canada’s housing market? - Star Phoenix

Canadians opt for locked in mortgages to secure rates - Star Phoenix

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 show year-over-year increases for the third consecutive week as local agents reported a total of 79 single-family home and condo sales to the multiple listing service®, down seven from the previous week but ahead of the same week last year by 14.

New listings continued to come on to the market at a pace which is fairly typical for this time of year. Saskatoon real estate agents added 123 homes to the MLS® system this week, down just four from last week. That’s seven fewer than were listed over the same period of time last year.

The total inventory of Saskatoon homes for sale grew on a weekly basis, albeit slightly to close the week down on a year-over-year basis. Today’s totals show 1043 active MLS® listings in the residential category, up just six from last week and down by 26 on an annual basis. A closer look at the two major housing types within the residential category shows condo inventory slipping from 349 at this time last year to just 302 today, a fairly substantial decline. At the same time, the supply of available single-family homes has increased marginally to 658 from 636 a year ago.

This week’s sales saw the average price paid for a Saskatoon home slip lower to $328,628 even as the weekly median surged ahead by twenty-one thousand dollars to reach $329,000. Meanwhile, the six-week average price inched lower on a weekly basis losing a little less than a thousand dollars to finish at $331,846 to claim an annual gain of nearly fourteen thousand dollars, one of the smallest year-over-year increases we’ve seen in awhile. The four-week median price moved in the opposite direction to finish the week at $319,000 for a weekly increase of twelve thousand dollars and an annual gain of nineteen thousand dollars, for the largest year-over-year increase in six weeks.

Overbid Saskatoon real estate sales had their strongest showing this year as eight lucky sellers managed to close a sale above their full asking price by an average of $4,650. Another nine couldn’t complain about the full price offer that they received and accepted. The other 62 sellers who managed to place a sold sign on their MLS® listed home had to take a seat at the negotiating table and give up an average of $7,511 to close the deal.

Other notable MLS® activity this week included 26 cancelled and withdrawn listings, seven expired listings and 34 price adjustments.

Highlights from the news this past week

There’s not going to be a housing crash - Moneysense

House prices to remain tepid - Globe and Mail

No crash in store for Canadian housing market: Scotiabank - Financial Post

Flaherty blasted for pressuring Manulife to pull low-rate mortgage - Financial Post

Ottawa to limit taxpayers exposure to mortgage market - Globe and Mail

Younger Canadians pessimistic about ability to own a home, poll shows - Financial Post

Chinese buyers enticed by Saskatoon real estate market - Star Phoenix

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 home sales continued to inch higher this week reaching their largest number for the year so far as local real estate agents reported 86 firm house and condominium sales to the local MLS®. That total brings a gain of 15 sales on a weekly basis and puts us ahead of the same week last year by four. That’s the second consecutive week in which sales outpaced the previous year, a somewhat hopeful sign for sellers and real estate agents who have been faced with declining sales in 16 of the previous 17 weeks.

Following an exceptionally strong week for new listings , additions to the Saskatoon multiple listing service® slowed some dropping more than 50 units from the previous week to 127, about even with the number of house and condo listings that entered the system during the same week last year.

Strong sales activity and a typical number of cancelled and expired listings kept the inventory of MLS® listings from gaining any ground this week. In fact, it slipped by ten from the close of the previous week to 1037, and finished lower on a year-over-year basis by just 15 properties. The trend line for MLS® inventory in 2013 seems to be hugging the 2012 line pretty tightly even as sales over the first quarter appear to be poised to fall short of reaching last year’s numbers. Today’s totals show 656 active single-family home listings and 297 condominiums. A year ago, those two important housing categories stood at 613 and 342 respectively.

The average price of a Saskatoon home sold last week was up just a few hundred dollars from the previous week to $339,327 while slightly more activity at entry levels put the median sale price lower by a little more than six thousand dollars to $308,000. The six-week average price declined by a bit more than two thousand dollars to finish the week at $332,441 for an annual gain of about fourteen thousand dollars. Meanwhile, the four-week median price dropped by a little more than seven thousand dollars to close at $307,000 losing about nine thousand dollars compared to the same week last year. This is the third consecutive week that the four-week median price has shown a year-over-year decline.

Overbid sales matched last week’s numbers at five while the average overbid paid made some upward strides hitting $7,740. Another 18 sellers managed to close a deal at their full asking price. The remaining 64 Saskatoon real estate sales closed below the asking price netting buyers an average discount of $10,121.

Other notable MLS® activity this week included 40 cancelled and withdrawn listings, seven expired listings and 32 price adjustments.

Highlights from the news this past week

Saskatoon real estate market booms for luxury homes - Star Phoenix

What first time buyers really need: Affordable housing prices - Globe and Mail

Moody’s analysis contemplates 44% drop in Canadian house prices - Financial Post

Don’t expect a large return from your house over the next ten years - Globe and Mail

Real estate market outlook cools as home sales plunge - Globe and Mail

CIBC, National Bank and TD all susceptible to slowing housing market - Financial Post

New house prices rise in January - Globe and Mail

Home sales plunge 16% in a year as price gains slow - 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 continued to move at respectable pace this week, actually beating sales from the same week the previous year for just the second time this year. Local agents reported a total of 71 firm house and condo sales, a drop of six from last week but up by 14 from the same period last year.

While sales were reasonably strong new listings were through the roof. This week, 181 house and condo listings were added to the MLS® system. That’s the most for any week since June of last year and it stands apart as one of the biggest listing weeks in the past five years. Some of that was likely expired listings that dropped off of the system the previous week, but still, the selection of available homes suddenly saw an improvement if you’re a buyer.

The inventory of available MLS® listings in the residential category took its biggest jump this year growing to 1047 from 976 at the close of the previous week to finish up over the same week last year by about two dozen units. Today’s totals show 648 single-family homes and 310 condominiums available to buyers. At this time last year those two housing types sat at 599 and 331 respectively.

Even in the absence of any huge luxury home deals the average sale price of a Saskatoon home managed to remain high dropping just a couple thousand dollars from last week to $339,030. The median price grew by seven thousand dollars to $317,500. The six-week average price continued to inch ahead gaining about fifteen hundred dollars from the previous week to reach $334,519 for an annual gain of just over fifteen thousand dollars. After sliding to its low point for the year last week the four-week median began to rebound and picked up eight thousand dollars to close the week at 314,250 and record a year-over-year decline for the second week in a row. During the same week last year the four-week median was just slightly higher at $314,900.

Overbid sales showed their strongest numbers in weeks at five. Those deals were reported to have closed at an average of $4,700 above the asking price. Another 12 buyers paid full asking price to wrap up their purchase. Meanwhile, 54 of this week’s 71 house and condo sales came in below the asking price with an average discount of $7,824.

Other notable MLS® activity this week included 40 cancelled and withdrawn listings, 19 expired listings and 36 price adjustments, twice the number recorded last week.

Highlights from the news this past week

When buying a home leave emotion at the door - Star Phoenix

Canada’s housing market overvalued by 20%: Fitch - Financial Post

Market View: No crash ahead for Canada’s real estate market - Globe and Mail

Real estate sales slow in province - Star Phoenix

Will nervous first time buyers make this spring’s housing market bloom? - Globe and Mail

Most frequently used words on listings show us a bit about our priorities - National Post

Flaherty thanks banks for holding rates steady after BMO cut - 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

Saskatoon home sales reached their highest level for any week this year as local real estate agents reported 78 firm house and condo transactions to the multiple listings service®, up 13 from last week but nearly 20 units short of sales numbers recorded during the same week last year. Of course, year-over-year sales declines have been pretty consistent so far this year. As February closed, the Saskatoon real estate market (MLS® residential sales) was down 18% from last year. Ouch!

New listings also increased on a weekly basis. This week saw 120 new listings hit the system, up from 112 last week but far below the 164 Saskatoon homes that came on during the same period last year.

A whack of property offerings that expired at the end of February brought total MLS® listings in the residential category below 1,000 units to 976 this morning, just 14 fewer than were available at the close of the same week in 2011. A more honest comparison, based on “months of available inventory” shows Saskatoon having a near four month supply of residential properties. That’s nearly a full month more than what existed a year ago. Once again, single-family home inventory climbed slightly on an annual basis to close the week at 599, up from 577 a year ago. Condo inventory finished lower slipping to just 293 properties from 327 last year.

A stronger week for luxury home sales, including three single-family homes averaging close to $1.1 million each brought the average price of a Saskatoon home higher by almost forty thousand dollars this week to $341,264. The median price edged up as well, just by $10K and reached $310,000. The six-week average price moved ahead by three thousand dollars to $333,086 and closed the week about fourteen thousand dollars ahead of last year. Meanwhile, the four-week median price tumbled more than fifteen thousand dollars to its lowest point this year to finish at $306,250 for a year-over-year loss of just over ten thousand dollars. This would be the first time we’ve seen a year-over-year decline to the four-week median price since December of 2011.

This week’s activity saw two buyers overbidding to close a deal on their dream home. Those contacts netted the seller an extra $50,000 in one instance and an additional $5,000 on the other. Another 12 buyers made a full price offer while 64 of this week’s 78 sales came in below the asking price with an average discount of $8,065.

Other notable MLS® activity this week included 38 cancelled and withdrawn listings, 51 expired listings and 18 price adjustments.

Highlights from the news this past week

Baby boomers won’t downsize anytime soon: Royal LePage - TeamFisher.com

Cooling in housing market seen as healthy - Globe and Mail

CMHC seeking to hide foreclosure information from buyers - Financial Post

Suburban model unsustainable - Star Phoenix

Canadian home costs take smaller bite of household budget... - Financial Post

Nearly half of baby boomers don’t plan to downsize - Globe and Mail

‘We don’t want low-ball offers’: CMHC - 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