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Saskatoon real estate week in review for April 13-19, 2019 (edition #632)

Saskatoon home sales took a modest dip this week with Friday’s closure of the MLS® system shortening the work week. Local agents reported 80 firm residential sales, a drop of seven from the previous week, and up by five when compared to the same week last year.


New listing activity continued to be strong as 174 Saskatoon homes were added to the multiple listing service®. That number is down 16 compared to activity reported the week before and even with listings generated over the same period last year.


Sales


Active listing numbers continued to grow at a more rapid pace than they did in 2018. After the overnight expired listings were removed from the mix, 1773 Saskatoon homes were showing an active status on the system. That is up 63 units from the previous week’s close and just 25 properties shy of levels recorded at the close of the same week a year ago. The trend of rapid growth to Saskatoon’s MLS® listing numbers suggests that we may be talking about year-over-year gains next week for the first time since October of last year when listing numbers started to trend lower. Single-family homes inventory sits at 970 today, up nearly 30 from a week ago, a 21 higher than last year. Condo inventory is at 694 for an annual drop of 61 homes.


Actives


Upper end real estate buyers showed up this past week and drove both the weekly median price and the weekly average higher to $340,000 and $361,118 respectively. The longer term measures followed along. The six-week average price grew nearly eight thousand dollars from last week but still closed lower than it was a year ago by roughly nine thousand dollars. Meanwhile, the four-week median price jumped 16K compared to the previous week and reached $326,250 to find itself up annually by just over six thousand dollars.


Price


A couple of lucky sellers managed to find their home the subject of a bidding war. Those two deals netted the seller an average bonus of $2,600 more than their asking price. On the flip side of the negotiating table, 67 Saskatoon home buyers made off with a discount that averaged $13,540.


Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that those sales that do show a sale price that is greater than the list price are all new properties that spent some period of time on the market, and most likely included additional improvements that were not reflected in the original list price. We report these to you as “at list price sales”, which is likely too generous in some cases, but it’s simply not practical to obtain the full details of each sale.


List


More weekly stats and numbers for those who love them.


General


Thank-you for reading TeamFisher’s Saskatoon Real Estate Week in Review.


Thank-you for reading TeamFisher’s Saskatoon Real Estate Week in Review.


I’m always happy to answer your Saskatoon real estate questions.  Please feel free to call or text me at 306-241-6676 or reach me by email at norm at teamfisher dot com.


Norm Fisher

Royal LePage Vidorra


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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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