CONTACT

Saskatoon real estate week in review: June 24-30, 2012


The first week of summer may have been a disappointment as far as the weather was concerned but the Saskatoon real estate market was hot. Local agents reported 104 firm sales of houses and condominiums to the Saskatoon multiple listing service® this week. That’s down just two from the previous week but well ahead of the 86 sales reported during the same week last year.


New listings also surged higher for the first time in three weeks as 158 Saskatoon homes were added to the MLS®, up 15 from last week, a significant increase from the number of new listings added during the same period of time in 2011.


Click the image for a larger version of the graph.



Total active listings remained pretty stable on a week-over-week basis dropping just one from last week to finish at 1229, down about 160 units from the same time a year ago. Today’s totals include 750 single-family homes and 404 condominiums. Condos continue to show the largest year-over decline falling from 489 a year ago. Single-family homes slipped lower by 70 units. While inventory levels are at their lowest point for the end of June in the previous five years, the trend appears to be similar to what it has been over the past two years. If it continues, we can likely expect to see total active MLS® listings remain fairly steady through August when levels will start to trail off for the winter.


Click the image for a larger version of the graph.



The average sale price of a Saskatoon home slipped about six thousand dollars this week to $342,319 while the median sale price for the week grew by roughly seventy-five hundred dollars to $325,500. The six-week average price inched lower dropping about a thousand dollars this week to settle at $339,523.  That number is higher than it was at this time last year by 28K or about nine percent. The four-week median price moved in the opposite direction losing three thousand dollars from the close of the previous week to close at $315,500 and claim an annual gain of about twelve thousand dollars, or four percent.


Click the image for a larger version of the graph.



The overbid activity was pretty soft this week, as it has been through most of the year. Five lucky sellers completed a sale above their asking price by an average amount of $2,725. Another 13 sellers managed to get out with their full asking price while 86 savvy buyers managed to grind a bit of a discount in their negotiations, each saving an average of $8,100.?


In other MLS® activity this week, there were 46 canceled and withdrawn listings, 15 that came to the end of their term and expired without a sale and 47 sellers who adjusted their price in hopes of attracting a buyer before the seasonal cooldown begins.


Click the image for a larger version of the chart.



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

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.
MLS® System data of the Saskatoon Region Association of REALTORS® displayed on this site is refreshed every 2 hours.
Google Analytics Alternative