CONTACT

Saskatoon real estate week in review: December 28, 2014 - January 3, 2015

Happy new year, everyone, and thank you for joining me as we roll out what I expect will be another exciting year for Saskatoon real estate sales.


We are officially out of the gate with week one of Saskatoon home sales data in the books. This past week, local agents reported a total of just 26 residential sales to the Saskatoon multiple listings service® to start the year with an annual deficit. The week closed with eight fewer sales than had been recorded during the same week last year. New residential listings added to the MLS® this past week went the same way, falling from 74 for the same week last year to just 51 this past week.


The typical slew of year end expired listings delivered some relief to the lofty numbers of active residential listings that Saskatoon has been dealing with through most of last year. By the close of the past week inventory levels had fallen by 120 units, compared to the previous week’s close. As of this morning, there are 1184 active listings on the Saskatoon multiple listing service®. That’s ahead of levels recorded a year ago when 1032 Saskatoon homes were for sale on the MLS®. A closer look by housing type shows 677 single family homes bearing a for sale sign, up from 632 a year ago, and 358 condominium units being available for buyers, up from 320 at this time last year.


The average selling price of a Saskatoon home softened slightly to $312,260 this week, while the weekly median price also moved lower to $285,000. The six-week average price slipped about five thousand dollars on the week to settle at $345,392 for a year-over-year increase of roughly seven thousand dollars. Meanwhile, the four-week median priced gained a bit more than five thousand dollars compared to last week to finish at $336,410 for an annual increase of $11,410. Soft unit sales led to a blood bath for sellers this week as 21 of 26 sales went for less than the asking price. The average discount was the highest I recall seeing in a long time at $20,070 driven largely by average discounts in areas two and three that approached 40K. Another four sellers found a buyer willing to pay their asking price, while one got lucky with an above list sale offering an overbid of $100. Other notable real estate activity this past week included 23 cancelled and withdrawn listings (20 and three respectively), 123 expired listings and 12 price changes.


Once again, happy new year! 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.
 

Posts By Date
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®.
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatoon Region Association of REALTORS® displayed on this site is refreshed every 2 hours.
Google Analytics Alternative