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Saskatoon real estate week in review: November 18-24, 2012

Saskatoon real estate sales fell further this week taking their fifth consecutive weekly slide to reach their lowest point since January of this year. Local REALTORS® reported just 50 house and condo sales to the multiple listing service® for a weekly decline of 13 units and a drop of 20 when compared against sales recorded during the same period last year. New listings edged higher as 91 houses and condominiums were added to the  Saskatoon MLS® inventory, up 11 from the previous week and ahead of last year’s number by 20 homes.


A fairly high number of cancelled listings kept the inventory of Saskatoon MLS® listings from reversing its six week trend of moving lower. The declines were kept to a loss of just four units from the totals. At the close of the week there were 1062 active MLS® listings in the residential category. That’s roughly 60 fewer units than could be found on the system a year ago. At this time there are 625 single-family homes and 337 condominiums for sale in Saskatoon. Last year at this time, single-family homes stood at 668 and condo inventory was at 383.


A near absence of luxury home sales brought the median sale price for a Saskatoon home lower this week by about eighty-five hundred dollars to just $314,000. The average sale price of a home fell further dropping more than 40K from the previous week to just $319,354. The six-week average sale price slipped about fifteen hundred dollars from last week to close the week at $336,065 for an annual gain of about eleven thousand dollars. The four-week median actually finished ahead of last week by two thousand dollars. It closed the week at $324,500 up nineteen thousand dollars from the same week a year ago.


Overbid sales fell to just one home. The seller netted an additional $1,100 on top of their asking price. Another ten buyers paid full price to close a deal on the home that they wanted. Meanwhile, 39 buyers ground their seller for a bit of a deal and picked up a discount averaging $9,265.


Other notable MLS® activity this week included 43 cancelled and withdrawn listings, 20 expired listings and 20 price adjustments.


Highlights from the news this past week

Mortgage crackdown threatens economy - CBC News 

What happens when the buyer backs out of a home sale - CTV News

Canadian homes are getting more affordable - Financial Post


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.
 

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