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Saskatoon real estate week in review: March 17-23, 2013

Saskatoon real estate sales continued to show year-over-year increases for the third consecutive week as local agents reported a total of 79 single-family home and condo sales to the multiple listing service®, down seven from the previous week but ahead of the same week last year by 14.


New listings continued to come on to the market at a pace which is fairly typical for this time of year. Saskatoon real estate agents added 123 homes to the MLS® system this week, down just four from last week. That’s seven fewer than were listed over the same period of time last year.


The total inventory of Saskatoon homes for sale grew on a weekly basis, albeit slightly to close the week down on a year-over-year basis. Today’s totals show 1043 active MLS® listings in the residential category, up just six from last week and down by 26 on an annual basis. A closer look at the two major housing types within the residential category shows condo inventory slipping from 349 at this time last year to just 302 today, a fairly substantial decline. At the same time, the supply of available single-family homes has increased marginally to 658 from 636 a year ago.


This week’s sales saw the average price paid for a Saskatoon home slip lower to $328,628 even as the weekly median surged ahead by twenty-one thousand dollars to reach $329,000. Meanwhile, the six-week average price inched lower on a weekly basis losing a little less than a thousand dollars to finish at $331,846 to claim an annual gain of nearly fourteen thousand dollars, one of the smallest year-over-year increases we’ve seen in awhile. The four-week median price moved in the opposite direction to finish the week at $319,000 for a weekly increase of twelve thousand dollars and an annual gain of nineteen thousand dollars, for the largest year-over-year increase in six weeks.


Overbid Saskatoon real estate sales had their strongest showing this year as eight lucky sellers managed to close a sale above their full asking price by an average of $4,650. Another nine couldn’t complain about the full price offer that they received and accepted. The other 62 sellers who managed to place a sold sign on their MLS® listed home had to take a seat at the negotiating table and give up an average of $7,511 to close the deal.


Other notable MLS® activity this week included 26 cancelled and withdrawn listings, seven expired listings and 34 price adjustments.


Highlights from the news this past week

There’s not going to be a housing crash - Moneysense

House prices to remain tepid - Globe and Mail

No crash in store for Canadian housing market: Scotiabank - Financial Post

Flaherty blasted for pressuring Manulife to pull low-rate mortgage - Financial Post

Ottawa to limit taxpayers exposure to mortgage market - Globe and Mail

Younger Canadians pessimistic about ability to own a home, poll shows - Financial Post

Chinese buyers enticed by Saskatoon real estate market - Star Phoenix


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.
 

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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