As April draws to a close the Saskatoon real estate market continues to show positive signs for spring with sales increasing marginally on a year-over-year basis during three of four weeks, including this one. Local agents reported a total of 93 house and condominium sales to the local multiple listing service® this week, down nine compared to last week and up two from the same period last year. With two business days remaining in the month, April appears poised to be the first month in the past six that will record a year-over-year increase in the number of homes sold within the city of Saskatoon.

New listings also came on the market at a brisk but seasonal pace. Over the course of the week, 155 houses and condos were added to the MLS® inventory, five fewer than the previous week but higher than the totals added during the same period last year by ten.

Residential inventory on the Saskatoon multiple listing service® saw small but steady growth as the total number of properties showing an active status increased by 13 this week to 1163 for a gain of 43 units when compared against levels of a year ago. Most of the annual increases can be found in the single-family home category which grew from 662 last year to 697 today. Condo inventory has begun to level off after showing annual declines for many months that sometimes showed drops as much as 20 percent. Presently, there are 375 condominiums for sale in Saskatoon, down just six units from a year ago.

An increased level of activity at the most affordable end of the real estate market saw the median price of a Saskatoon home slip this week to $318,000. The weekly average also took a dip for the second week in a row falling more than ten thousand dollars to $326,093. The longer term numbers were much more stable, at least on a weekly basis. The six-week average sale price of a Saskatoon home inched lower by about twenty-six hundred dollars from last week to $343,327 for an annual gain of less than one thousand dollars. The four-week median price increased one thousand dollars from last week to reach $333,000 showing a year-over-year decrease of nearly seven thousand dollars. This is the third week in a row in which the four-week median price has shown an annual drop.

Overbid Saskatoon real estate sales saw a another big increase moving to ten sales this week from just six the week before. Those sellers netted, on average, an additional $2,460 from their sale. At the same time, the number of sales that closed at the seller’s full asking price declined sharply to just ten, down from 23 during the previous week.

The other 72 firm deals came in below the asking price showing an average discount of $7,712 for each buyer, the smallest movement we’ve seen in several weeks. Other notable MLS® activity this week included 42 cancelled and withdrawn listings, 10 expired listings and 26 price adjustments.

Highlights from the news this past week

Feds must step up for housing - Jordon Cooper’s Star Phoenix column

River Landing could attract investors - Star Phoenix

Canadian paying down debt at quicker pace - Financial Post

Even in real estate slump, Canadians lured into bidding wars - Financial Post

Property value assessments skyrocket - 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

Sales of Saskatoon homes surged higher this week breaking through the one hundred mark for the first time this year. Saskatoon real estate agents reported a total of 102 condo and house sales through the multiple listing service®, an increase of 24 home sales compared to the previous week and ahead of the same week last year by four.

New listings continued to hit the MLS® system at an appropriate pace for the season. This week, 160 new house and condominium listings were added to the system, three fewer than last week, down 18 properties when compared against new listings for the same period last year.

Saskatoon MLS® inventory in the residential category edged higher again as it always does in April. At this week’s close we have a total of 1150 properties showing an active status, up 26 from last week’s close and ahead of last year’s total by 48 homes. Today there are 685 single-family homes and 370 condominiums for sale on the Saskatoon MLS® system. Last year at this time inventory for those two housing types stood at 646 and 392, respectively.

Last week, the average selling price of a Saskatoon home took a huge leap forward due to a good handful of high end sales including a couple of homes that traded above the $1-million dollar mark. This week, with just five sales recorded above $500,000 the average sale price fell sharply to $337,393. The weekly median price (the price point at which half of all sales occurred at a lower price) remained pretty stable, increasing $1750 from last week to $328,000. The longer term measures that we track were nearly unchanged from the previous week. The six-week average price slipped about seven hundred dollars to $345,923 for a year-over-year gain of eight thousand dollars. The four-week median edged higher by one thousand dollars from a week ago to reach $332,000 to show an annual loss of fifty five hundred dollars.

The number of homes that traded for more than the asking price increased to six this week from just two last week. On average, those sellers netted an additional $2,234. Another 23 deals wrapped up at the seller’s full asking price. The remaining 73 sales were completed below asking price with the buyer netting an average discount of $9,857.

Other notable MLS® activity this week included 25 cancelled and withdrawn listings, 16 expired listings and 31 price adjustments. 

Highlights from the news this past week

Real estate expert shares smart tips for downsizing - Star Phoenix

Is Canada’s condo boom coming apart at the seams? - Globe and Mail

Home sales up 2.4 percent in March - Star Phoenix

Bank of Canada still sees signs of overbuilding, ‘stretched’ housing values - Globe and Mail

Canadian real estate shows continued improvement in March: CREA - TeamFisher.com

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

From one week to the next, Saskatoon real estate sales have been in an up and down pattern and this week was no exception as home sales slipped by 9 units on a weekly basis to 78 and fell short of numbers generated during the same week last year by 13. A quick look at year-over-year comparisons for the month of April shows that overall sales in the residential category conducted through the MLS® are roughly on par with last year’s.

While Saskatoon real estate agents weren’t as busy writing deals they certainly found time to write lots of new listings introducing a total of 165 houses and condominiums to the multiple listing service® and completing the largest volume week so far this year. The number of new listings added to the MLS® was up by 12 over the previous week and ahead of listing processed during the same period last year by 27 homes.

The total inventory of active listings in the residential category of the Saskatoon multiple listing service® continued to grow at a pace which would be considered pretty normal for this time of year. Total numbers of available properties grew by 36 from the close of the previous week to find its totals above 1100 for the first time this year. Reaching 1124 homes, current MLS® inventory is up marginally (just 17) on a year-over-year basis.

This was a strong week in the luxury category with two Saskatoon house sales reported above the $1-million mark, one of those actually breaking past $1.5 million. Throw in another sale above $800,000, a couple that broke $700K and three above the $600,000 mark and watch the average price of a Saskatoon home soar this week to $374,287 to reach its highest point this year. The six-week average price also pushed forward gaining more than five thousand dollars from last week to close at $346,678 to pick up an annual gain of just over sixteen thousand dollars. The four-week median price grew by forty-five hundred dollars from last week reaching $331,000 for a year-over-year increase of about eleven thousand dollars.

Overbid Saskatoon real estate sales continued to be a near non-factor with just two lucky sellers bagging an offer above their asking price. It was a serious win for one seller whose Nutana area home sale closed $50,000 above list. Another six sellers found a buyer willing to pay them their full asking price while 70 of this week’s 78 sales closed below the list price by an average of $13,272. That number is heavily skewed by some large dollar discounts on the high-end sales, the two biggest sales alone contributing about $230,000 to the discount pool.

Other notable MLS® activity this week included 45 cancelled and withdrawn listings, 5 expired listings and 30 price adjustments.

Highlights from the news this past week

Saskatchewan job numbers strongest in Canada - Star Phoenix

Housing starts off record highs of 2012 - Star Phoenix

Riversdale condos planned for Great West Warehouse site - Star Phoenix

Saskatoon’s population expected to boom - Star Phoenix

Saskatchewan the ‘place to be.’ says Scotiabank economist - Regina Leader Post

‘So far, so good’: Data suggests soft landing for Canada’s housing market - Financial Post

Smart growth makes consumer housing aspirations irrelevant - 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 reached their highest point for any week this year with 87 houses and condominiums trading hands through the multiple listing service®. That final tally is up 16 units from the previous week to finish well above the 63 Saskatoon homes that sold during the same week last year.

A spike in new listings happened at the same time, also reaching record numbers for any week this year. Saskatoon real estate agents brought 153 new listings to the MLS® system, up 55 from last week, but falling short of numbers from the same period last year when 192 new listings came onto the system.

Inventory numbers of Saskatoon MLS® listings moved higher this week gaining 35 units over the course of the week to close at 1092, its highest level this year. That number is ahead of levels seen at the same time last year by 32 homes. A search of today’s inventory shows 664 single-family homes and 342 condominiums displaying an active status. Last year at this time, those categories stood at 624 and 354, respectively.

A pretty good handful of upper end real estate sales saw the average sale price of a Saskatoon home surge to its highest point for any week this year at $363,586. Combining the upper end sales activity with fewer entry level sales pushed the median price higher as well to $347,400.

After trending lower for most of the first quarter, both of our longer term measures took a solid leap to higher ground. The six-week average climbed nearly ten thousand dollars from last week’s close to reach $341,059 for an annual gain of a bit more than thirteen thousand dollars. The four-week median pushed higher by eight thousand dollars this week and settled at $326,500 for a year-over-year increase roughly the same as the six-week average.

Overbid Saskatoon real estate sales cooled to just three. Those fortunate sellers picked up an additional $5,434 on average. On the other hand, sales at list price posted some of the strongest numbers we’ve seen in awhile at 23. The remaining 61 firm Saskatoon real estate sales closed below the asking price by an average of $8,929.

Other notable MLS® activity this week included 32 cancelled and withdrawn listings, 16 expired listings and 23 price adjustments.

Highlights from the news this past week

Why Canadian banks shouldn’t fear a housing slowdown - Financial Post

Home sales activity on an upward swing - Star Phoenix

Real estate’s late spring: Sales rebound fails to happen - Globe and Mail

Canadian home prices up in most markets in early 2013: Royal LePage - 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.

By Norm Fisher

Royal LePage Vidorra