Saskatoon real estate market saw sales remain flat on a weekly basis, while they slipped lower compared against last year’s numbers. Local agents reported just 81 firm house and condo sales to the Saskatoon multiple listing service® this week for a gain of just one on last week’s totalsto finish seven units lower than the numbers recorded for the same week a year ago.

Meanwhile, the number of new listings added to the MLS® system grew, on a weekly an annual basis. REALTORS® added 153 houses and condos to the system this week, up 16 homes from the previous week and way ahead of the same week a year ago when only 110 properties hit the market.

The total inventory of active residential listings saw gains for the second week in a row at a time of year when they can almost always be counted on to fall. The number of homes displaying an active status on the MLS® system grew by 18 over the course of the week to reach 1561 for annual growth of 188 Saskatoon homes. Today’s totals show 1107 single-family homes and 454 condos being offered for sale, up on an annual basis from 859 and 415, respectively.

The average price paid for a Saskatoon home this week slid lower to $338,833. At the same time, the longer term measures both made gains led by the six-week average price which grew by nearly five thousand dollars this week to reach $358,211 for a year-over-year increase of roughly six thousand dollars. The four-week median price inched higher increasing by twenty-five hundred dollars compared to last week’s close leaving it down on an annual basis by just a bit more than 10K.

Two buyers offered to pay their seller a bonus above the asking price that averaged $18,601. That number was skewed higher by one particularly generous overbid that topped $30,000. Another 65 buyers made off with a discount averaging $11,596. Another 14 deals closed at the full asking price.

Other notable real estate activity this past week included 60 cancelled and withdrawn listings (53 and seven respectively), 20 expired listings and 63 price changes.

Highlights from the news this week

Real risk to housing markets is ‘constrained liquidity’ - The Toronto Star

Interest rates to remain low and hold longer - CREA News

Moody’s warns on housing market - GlobeAdvisor

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 Saskatoon Real Estate

Meanwhile, the number of new listings added to the MLS® system grew, on a weekly an annual basis. REALTORS® added 153 houses and condos to the system this week, up 16 homes from the previous week and way ahead of the same week a year ago when only 110 properties hit the market.

The total inventory of active residential listings saw gains for the second week in a row at a time of year when they can almost always be counted on to fall. The number of homes displaying an active status on the MLS® system grew by 18 over the course of the week to reach 1561 for annual growth of 188 Saskatoon homes. Today’s totals show 1107 single-family homes and 454 condos being offered for sale, up on an annual basis from 859 and 415, respectively.

The average price paid for a Saskatoon home this week slid lower to $338,833. At the same time, the longer term measures both made gains led by the six-week average price which grew by nearly five thousand dollars this week to reach $358,211 for a year-over-year increase of roughly six thousand dollars. The four-week median price inched higher increasing by twenty-five hundred dollars compared to last week’s close leaving it down on an annual basis by just a bit more than 10K.

Two buyers offered to pay their seller a bonus above the asking price that averaged $18,601. That number was skewed higher by one particularly generous overbid that topped $30,000. Another 65 buyers made off with a discount averaging $11,596. Another 14 deals closed at the full asking price.

Other notable real estate activity this past week included 60 cancelled and withdrawn listings (53 and seven respectively), 20 expired listings and 63 price changes.

Highlights from the news this week

Real risk to housing markets is ‘constrained liquidity’ - The Toronto Star

Interest rates to remain low and hold longer - CREA News

Moody’s warns on housing market - GlobeAdvisor

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 Saskatoon Real Estate

Interesting, at least to me, is the fact that by the close of this week 3,840 residential sales had been reported for the year. That’s nearly 300 more Saskatoon homes than had been sold by this time last year, and 28 more sales than had occurred by this date, in what turned out to be the strongest year ever for the number of Saskatoon homes that traded hands, 2007. It’s looking like 2014 is likely to be the new record holder for the largest number of residential trades. Don’t be fooled into believing that the market is weak. If you’re trying to sell now, and failing, you are actually letting a pretty good time pass you by. New listings activity reached its lowest point since the first week of March with just 137 new listings of single-family homes and condominiums being added to the MLS®. That’s 38 fewer homes than were listed the previous week but still well up on last year’s numbers by 25 homes.

Following three consecutive weeks of declines, the inventory of residential properties displaying an active status on the Saskatoon multiple listing service® took a very small step in the opposite direction growing by two to reach 1543 for an annual increase of 141 properties. Single-family homes make up the lion’s share of the inventory with 1096 homes for sale, up from 884 a year ago. Condo inventory sits at 426, about even with the number of condominiums that were actively for sale at this time last year. Those with some sharp math skills might be asking, “how can single-family home inventory be up 212 units from last year, but all active listings have increased just 141?” It would seem that the difference is in the categories of revenue type properties like duplexes, semi-detached homes, and so on which are nearly non-existent this fall.

A little more activity towards the upper end of the Saskatoon real estate market saw the weekly median price of a home grow to $345,000 this week. The average price went the same way increasing to $352,707. The six-week average price held stable on a weekly basis at $353,592 for a year-over-year gain that wouldn’t by a family of four dinner at Mickey Dee’s, or about forty bucks. The four-week median grew nine thousand dollars compared to last week and finished the the period at $337,000 to find itself down on an annual basis by eight thousand dollars.

Three lucky sellers found some love with a buyer willing to pay them more than they were asking. Those overbids were pretty generous too, averaging $4,300. Buyers who were insistent on grinding a bit of a deal fared pretty well with 63 trades closing below asking price for an average discount of $10,971. Another 14 sales hit the books having been reported sold for the full list price.

Other notable real estate activity this past week included 81 cancelled and withdrawn listings (52 and 29 respectively), just three expired listings and 54 price changes.

Highlights from the news this week

Royal LePage CEO predicts slower growth in house prices - Globe and Mail
Even Canadian real estate companies see house price growth slowing - Globe and Mail
Canadian homeowners paying down mortgages faster than thought - The Star
Canadian home sales climb 10.6 percent and outpace expectations - BNN Canadian home prices up, but moderating - CTV News
A cooling market but one with legs - Globe and Mail

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 Saskatoon Real Estate

The number of new listings added to the MLS®headed lower as well dropping from 222 last week to just 175 this week. Through most of this year, new listings have increased when compared against activity recorded for the same period last year. This was one of the rare weeks that didn’t happen as new listings fell by ten units on a year-over-year basis.

The total number of active residential listings available on the MLS® system continued to taper off as those numbers slipped by ten over the course of the week to 1541 leaving us up by about 140 homes when compared against levels recorded at this time last year. Year-over-year increases are starting to get smaller because inventory had already crept to some lofty heights by the end of Q3 last year. Recent changes to the search functionality of our MLS® system are creating a challenge in putting forward specific numbers of active listings by category. While my search of total residential listings yields a total number of 1541 (a number that makes a fair bit of sense just based on weekly activity), the combined total of single-family homes and condos exceeds that number. We’ll have to give the association a few weeks to sort out some bugs, I’m afraid.

The mix of real estate activity in various price ranges saw the weekly median price of a Saskatoon home grow to $328,000 this week, up from $315,000 a week ago but the average sale price stayed pretty stable at $348,369. Meanwhile, the six-week average price slipped lower losing about seven thousand dollars on the week to settle at $352,888 for an annual increase of just six thousand dollars. The four-week median fell more dropping eleven thousand dollars in a week to $328,000 to finish two thousand dollars lower than it did during the same week last year.

Overbid sales stuck at the three unit mark with an average bonus of $1,895 being paid to those sellers. Another seven sellers saw a full price offer on their home. The remaining 67 sellers had to give a bit to close a sale. The buyers in those transactions saw an average discount of  $10,023.

Other notable real estate activity this past week included 73 cancelled and withdrawn listings (64 and 9 respectively), 70 expired listings and 81 price changes.

Highlights from the news this week

Spending on home renos outpaces new construction - Globe and Mail
Millennials lured by lengthy stretch of low rates spur Canada’s condo boom - Financial Post
In today’s hot housing market first timers can’t afford to get in - Globe and Mail
How a housing market decline could put retirement savings at risk- Globe and Mail

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 Saskatoon Real Estate

On the heels of two weeks that saw sales of single-family homes and condos exceed 100 units the Saskatoon real estate market cooled a bit this week as local agents reported just 89 firm deals to the local MLS®. That number falls shy of meeting last week’s totals by 14 but leaves us ahead of the same week last year by two bringing year-over-year gains for the seventh consecutive week.

New MLS® listingsshot higher with 222 properties (162 houses and 60 condominiums) being added to the Saskatoon multiple listing service® over the course of the week, a gain of 50 units compared to last week, up 24 when compared against the same week last year. Some changes occurred with the search functionality of our MLS® system last week. I’m a bit sceptical about the accuracy of these particular numbers but we’ll go with it until I’m certain there’s an issue.

As expected, a large number of expired listings that fell out of the system as the new month began brought total active MLS® listings lower for the second week in a row. As of today, there are 1551 residential properties showing an active status, down 46 from last week but up when compared against the same date last year by 162 homes for one of the smallest year-over-year gains recorded in the last two months. Today there are 973 single-family homes for sales, up from 863 a year ago. Condo inventory comes in at 443, ahead of last year’s number by about 29 homes.

A good measure of entry level home sales ushered the weekly median price lower to just $315,000 this week. The average sale price of a Saskatoon home followed along and slid lower to $347,235. Meanwhile, the six-week average price paid for a Saskatoon home made some gains finishing five grand higher than it was a week ago at $359,862 to close the week fifteen thousand dollars ahead of where it sat a year ago. The four-week median price lost about five thousand compared to the previous week to finish at $339,900 for an annual increase of just less than 10K.

Once again, overbid sales remained stable at just three. Thos three deals brought the seller an average bonus of $25,700 thanks to an almost unheard of overbid of $70,000 on one of this week’s condo deals. Another nine homes traded hands at full asking price, while 77 of the week’s  89 sales went below the seller’s listed price by an average of $10,073.

Other notable real estate activity this past week included 73 cancelled and withdrawn listings (64 and 9 respectively), 70 expired listings and 81 price changes.

Highlights from the news this week

Finance minister says major markets distorting housing numbers - Financial Post
Real estate market on pace for a hot start to autumn - Globe and Mail
First time buyers feeling weight of Canada’s housing boom- Financial Post

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 Saskatoon Real Estate