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Saskatoon real estate week in review: December 2-8, 2012

Saskatoon real estate sales hit their lowest point since the first week of 2012 this week as just 48 single-family homes and condominiums were reported as being firmly sold to the multiple listing service®. This week’s sales fell by 15 compared to the previous week to finish down by six when compared against the totals recorded during the same week last year. New listings also slipped lower at a slightly slower pace. Saskatoon real estate agents added just 84 homes to the MLS® this week for a weekly decline of six. That number is sharply higher than the 59 listings added over the same period last year.


The inventory of Saskatoon MLS® listings continued a very slow slide and reached 1010 by today, its lowest level since March. That number is down just 13 units from the close of the previous week and pretty much on par with levels seen at the same time last year when total residential listings had fallen to 1008. Today, there are 602 active single-family homes listings and 313 condos for sale in Saskatoon. At the same point a year ago, single-family homes listings sat at precisely the same number, 602. Condo inventory was considerably higher at 396.


With far fewer luxury homes contributing to the mix this week, the average sale price and the median sale price of a Saskatoon home both fell rather sharply. Those measures both slipped by at least $50,000 to close at $333,280 and $313,146 respectively. Meanwhile, the six-week median price managed to edge higher gaining twenty-five hundred dollars from last week to close at $348,584 to claim an annual gain of more than thirty thousand dollars. The four-week median slipped lower by about a thousand dollars on a week-over-week basis and finished the week at $333,875 for a thirty-six thousand dollar annual gain.


Overbid sales re-emerged from the dust as two buyers offered their prospective seller more than the asking price to close the sale. Those two deals averaged a $2,708 overbid. Another seven buyers closed a purchase with a full price offer. An additional 38 buyers insisted on a discount and wrapped up their purchase with a five figure discount averaging $10,391.


Other notable MLS® activity this week included 33 cancelled and withdrawn listings, 22 expired listings and 15 price adjustments.


Highlights from the news this past week

Million dollar home sales double in Saskatoon - NewsTalk 650

City breaks $1-billion in building permits - Star Phoenix

Cooling housing market shows stricter mortgage rules are working: Flaherty - Financial Post

U.S. home prices record biggest jump in six years in October - Globe and Mail

House sales up seven percent year-to-date in Saskatoon - Star Phoenix

Consumers getting message on debt but will it last - Globe and Mail

Central bank warns ongoing low-interest policies a global risk - 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

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.
 

Note: We are in the process of bringing this blog home to the TeamFisher.com domain and we have a lot of stuff to move! Another 700 posts can be found at normfisher.com where they'll remain until we can get them moved here.

The Saskatoon Region Association of REALTORS® (SRAR) IDX Reciprocity listings are displayed in accordance with SRAR's MLS® Data Access Agreement and are copyright of the Saskatoon Region Association of REALTORS®.
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