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Saskatoon real estate week in review: November 7-11, 2011

Sales of Saskatoon homes through the multiple listing service® continued on a downward trend as we would expect at this time of the year. Saskatoon real estate agents reported seven fewer sales than last weekat 55 units for a year-over year gain of just one sale.


New listings of houses and condos moved higher on a weekly basis, gaining on the previous week by six units for a total of 83 to trump new listings taken over the same period of the previous yearby 12.


Click the image for a larger version of the graph.


Total active MLS® listings in the residential category made an upward move for the first time in six weeks as it grew by 13 units this week to 1174. That’s just three fewer listings than were available on the system at the same point in 2010. The listings line for 2011 has pretty much identically matched last year’s numbers since late September. This morning, buyers can find 701 single-family homes and 402 condominiums showing an active status on the system. Last year, at this time, those numbers sat at 708 and 408, respectively.


Click the image for a larger version of the graph.


Cancelled and withdrawn listings fell to just 36 homes with 19 of those returning to the system on the very same day bearing a new MLS® number, and in most cases, a new price. An additional 35 Saskatoon home sellers completed a price adjustment. Another 13 listings expired from the system having failed to sell during the contract period.


The average selling price of a Saskatoon home edged slightly higher this week gaining about $2,500 to finish at $328,015 while the weekly median plummeted lower, falling nearly $20,000 to just $290,000. The six-week average sale price grew by about $4,500 this week to reach $330,436 and hit another record high for the year. That’s roughly $28,000 higher than it was at the same point on last year’s calendar. The four-week median price slid lower by just over one thousand dollars to finish the week at $310,000 for an annual gain that matched that of the six-week average.


Click the image for a larger version of the graph.


Overbid sales made a come back in the stats as four lucky sellers completed a deal above their asking price, by an average of $11,313. That large average overbid was driven higher by one area 4 sale that closed at more than $40K above the list price. Another three sellers found a buyer willing to pay exactly what they were asking while 48 of 55 sellers had to sharpen their pencil a bit to get their home sold with an average underbid on $10,414.


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.
 

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