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Saskatoon real estate week in review: February 8-14, 2015

Saskatoon homes sales saw some upward movement on a weekly basis but continued to produce sales lower than last year’s numbers for the seventh consecutive week. Saskatoon real estate agents reported 63 firm residential deals to the local multiple listing service®, up seven from last week, to fall short of sales for the same period last yearby 15 homes.


The number of new listings added to the MLS® systemfell lower by 16 when compared against the previous week. A total of 160 homes entered the system this week, enough to finish ahead by 31 listings when compared against the the same week of 2014.


Softer sales and strong listing activity continued to push the total inventory of Saskatoon homes for sale on the multiple listing service® higher for the sixth week in a row. This week, the tally hit 1,500 for weekly growth of 31 and annual gains of nearly 300 properties. The inventory of available single-family homes grew from 710 a year ago to 830 today, a 17 percent year-over-year gain. Meanwhile, condo inventory pushed higher from 381 at this time last year to 510 today for an annual percentage increase of 34 percent, nearly twice that of single-family homes.


The balance between higher end sales and entry level sales remained steady from last week with a median sale price hanging firm at $338,000 while the average sale price of a Saskatoon home edged slightly lower losing about two thousand dollars from last week to close at $365,820. The longer term measures both inched higher with the six-week average sale price gaining about twenty-five hundred dollars over the course of the week to finish at $361,236 to claim an annual increase of a bit more than ten thousand dollars. The four-week median price of a Saskatoon home went to $338,000 for a gain of $1,750 on the week and an annual spike of about thirteen thousand dollars.


The number of homes to sell for more than the seller’s asking price reached its highest level in at least a couple of months with eight sales generating an average overbid of $20,952. This number is largely driven by new home sales reported well above asking price that almost certainly included extra improvements that were negotiated after the asking price had been set. On the other side of the negotiating table, 48 buyers ground a deal that netted them an average discount of $10,800. The remaining seven sales closed at the seller’s full asking price.


Other notable real estate activity this past week included 42 cancelled and withdrawn listings (40 and two respectively), 23 expired listings and 42 price changes.


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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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