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Saskatoon real estate: Week in review (April 27–May 1 2009)

Following two fairly brisk sales weeks, Saskatoon real estate sales softened some as local agents reported just seventy-seven sales of single-family detached houses and condominiums to the Saskatoon MLS system. This week’s numbers were down by eleven units compared to last weekand fell shy of the units recorded during the same week last year by fifteen homes.


New listings were up just slightly over last week to one hundred and thirty six homes, and well below last year’s number of two hundred and twenty eight. The typical batch of month end expired listings caused the total residential inventory of Saskatoon homes for sale to fall from 1,472 last week to 1,410 this morning but strong renewals and soft sales of Friday brought them back to 1,439 by the end of the day. At the close of business today, eight hundred and sixty five houses and four hundred and eighty-six condominiums are displaying an active status on our MLS system.


Eighty-nine home sellers adjusted their price this week in hopes of attracting a buyer. An additional twenty-eight homes were canceled and re-listed, most at a new price.


The average selling price of a Saskatoon home took a $5,000 decline compared to last week slipping to $280,117 while the six-week average and the four-week median both increased again. The six-week average moved up to $276,929, recording its fourth consecutive week-over-week gain and reaching its highest level since the final week of February. Still, this price measure remained lower than it was during this week last year by just over $26,000. Meanwhile, the four-week median took a slightly larger gain growing $4,500 over last week to finish at $264,450 and reaching its highest level since the first week of March. Once again, year-over-year losses were recorded but at a much smaller number than compared to recent weeks. It’s down $15,750 from the same week in 2008.


Two home sellers managed to complete a sale at a price higher than list and those two sales generated an average overbid of $20,550. Both of the overbid properties were new homes so the agreed upon price may have included additional value. Another seven sellers got their price, while sixty-six others came to the negotiating table and sliced an average of $12,718, or 4.3 percent from their asking price to close the deal.


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.


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Norm Fisher
Royal LePage Vidorra

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

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