CONTACT

Saskatoon real estate: Week in review (May 18-22 2009)

Saskatoon real estate sales were down this week compared to last, but continued to clip along at a better than average pace with eighty-two houses and condos changing hands, down from ninety-five units last week and well above the sixty-one properties that sold during the same week last year.


New listings of Saskatoon houses and condos came in at one hundred and thirty-eight properties, down three units from the previous week, and forty-one units lower than the same week last year when one hundred and seventy-nine homes were offered for sale on the multiple listing service. It would have been the slowest week for new listings since January if not for twenty-seven “to be moved” buildings located in McNab Park that were listed for sale, and thirteen condo units which were canceled from the system last week only to be re-listed this week.


Total active residential listings managed to push higher closing the week up twenty-seven properties to 1,528. The current inventory of Saskatoon real estate listings includes nine hundred and fifteen single-family detached houses, five hundred and nine condominiums, thirty-four semi-detached homes, thirty-seven duplexes, nine vacant lots, ten mobile homes and nine other things that apparently don’t fit neatly into any of the categories I’ve just listed. Total active listings were at 1,125 properties during the same week in 2008.


Prices took a sharp downward turn this week as the average selling price fell more than $30,000 from the previous week to $257,282. The change appears to be related to one of those strange anomalies that just happen for time to time. This week, there was just one lonely sale above the $400,000 mark, compared to fourteen the week before, so in spite of the fact that houses took a larger share of the sales this week, the average was pushed lower. The six-week average broke a seven week winning streak falling about $3,500 from last week to finish at $276,511 roughly $25K lower than the same week last year. The four-week median held firm at $270,000 for the third consecutive week, lower than the same week in 2008 by just $10,000.


Just fifty-one Saskatoon home sellers adjusted their price this week, not including the nineteen properties that were cancelled and re-listed, most at a new price.


Sellers were feeling the love this week as home buyers said yes to deals that were within an average of $9,124, or 3.1% of the asking price. I expect this is probably one of the highest sales to list price ratios that we’ve seen in some time. Over forty percent of sellers struck a deal within $5K of their asking price, while another thirty four percent settled for a discount between $5,001 and $10,000.


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.


Follow our daily updates on Twitter @Norm_Fisher.


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
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