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Saskatoon real estate week in review for May 18-24, 2019 (edition #637)

For the seventh consecutive week, Saskatoon real estate sales in the residential category grew over the same week in 2018. Local real estate agents reported 73 Saskatoon homes as having firmly sold, down from 95 last week, but up just a touch from the same period last year when 70 deals closed. As we head into the final stretch of the month of May, it appears that year-over-year gains will be recorded for the month (for third month in a row), setting us up for the longest run of year-over-year sales increases since 2014.


New listing numbers took another large decline as they fell to 147, down from 219 last week to finish lower annually by 23 units. With just four weeks of “spring” left this year, new listing numbers should fall lower by a small amount in each remaining month, with June being the possible exception.


Sales and listings


The inventory of MLS® listings available to Saskatoon home buyers edged higher growing by 20 this past week to reach 1910 for an annual drop of 87 properties. Available single-family homes hit a new annual high at 1079, up modestly from 1055 a year ago. Most of the losses to inventory numbers are in the condo category which shows 709 units today, down from 817 a year ago.


Active


More entry level activity caused a modest decline to the weekly median price for a Saskatoon home which came in at $320,000. The weekly average price fell further. At just $331,813 that measure was close to twenty-five thousand dollars lower than it was last week, in spite of two sales that together added over two million dollars to the sales volume. Aside from those, there were only three other home sales that recorded a price above 500K.


The six-week average price moved up a few hundred dollars to reach $340,948. That was enough to post an annual increase of seven thousand dollars. Meanwhile, the four-week median price dropped by nearly seven thousand dollars from last week and settled at $318,250. That’s down a bit less than $2000 from where it finished the same week last year.


Price


One fortunate seller sold for more than they were asking, putting an extra $2100 in their pocket. Another 66 of this week’s 73 sales went for less than the listed price netting those buyers an average discount of $11,430.


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.


MLS sales


More weekly stats and numbers for those who love them.


General stats


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 email.


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.
 

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®.
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.
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