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Saskatoon real estate week in review: November 21-25, 2011

It was another reasonably strong week for Saskatoon real estate sales considering the time of year. A total of 71 detached house and condo sales were reported to the local MLS®. This week’s sales were up by 21 on the previous weekand finished higher by 12 compared against the same week last year.


New MLS® listings of houses and condominiums matched sales at 71 units for a weekly decline of just two, but finished higher by eight on a year-over-year basis.


Click the image for a larger version of the graph.


The total inventory of active MLS® listings in the residential category continued to trail lower as it fell by 30 units this week to finish at 1119, up 20 listings when compared to inventory levels at this time last year. This morning’s numbers show 668 single-family homes and 383 condominiums for sale within the city of Saskatoon. Those two categories stood at 633 and 408 respectively at this time last year. You may recall that for most of the year, single-family home inventory had been lower and condo inventory had been higher on a year-over-year basis so we are seeing a bit of a change there.


Click the image for a larger version of the graph.


Cancelled and withdrawn listings slid lower to 29 homes with 14 of those doing a turnabout and re-entering the system with a new MLS® number, and in most cases, a new price. An additional 39 price adjustments were recorded on the system and 17 listings came to the end of their term and expired without a sale.


Weekly prices bounced higher this week with the average sale price moving nearly $18,000 to $323,173. The median picked up close to $19,000 on the week to finish at $313,000. The six-week average managed to inch lower by a few hundred dollars over the course of the past week and closed at $325,129 up from $307,651 a year ago. The four-week median moved in the opposite direction and gained $5,500 on a weekly basis to finish the week at $305,500 claiming an annual gain of just over $10,000.


Click the image for a larger version of the graph.


Overbid sales were fairly steady at four but the average overbid was up to $6,275. Another three Saskatoon home sellers found a buyer willing to pay what they were asking. Most sales (64 of 71) closed at a price that was lower than the list by an average of just $9,605.


Click the image for a larger version of the chart.


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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®.
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.
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