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Saskatoon real estate week in review: April 16-22, 2017

Saskatoon real estate sales rebounded this week after showing a sharp decline during the previous period. Local agents brought 86 firm residential sales to the MLS® system, up from 54 a week ago, but down from 101 for the same week last year. Still, 86 sales falls just shy of this year’s most productive week when 89 Saskatoon homes traded hands. The new listing activity also grew to reach 200, up from 178 a week earlier and falling slightly short of the 202 new listings brought to the multiple listing service® over the same period last year.



Saskatoon real estate statistics for MLS home sales from April 16-22, 2017



The inventory of Saskatoon MLS® listings continued to head upward, stopping just short of the 2000 mark at 1999. That’s higher than it was at the close of the previous week by 36 homes, and up 37 from a year ago. Today’s totals show 1073 single-family homes being available to buyers. That selection tops last year’s by about 50. Condo inventory is at 759 today, 15 fewer than were available a year earlier.



Saskatoon active residential listings on the MLS at April 22, 2017



This week’s price figures are significantly skewed by upper-end activity, much like last week. The weekly median remained high at $355,000 and the weekly average took a huge jump to $385,856. While sales of high-end homes were generally strong, some extra punch to the average came from two sales, one at $2 million dollars, and the other at $930,000. This is just the third time that Saskatoon has produced a seven figure sale with a 2 at the front end. This is fairly remarkable given that it happened for the first time just last September. All three sales were at the Willow’s Golf Community. In any case, this week’s sales pushed the six-week average price for a Saskatoon home to $352,278. That’s up about eight thousand dollars from last week, and about thirty-five hundred dollars higher than it was a year ago. The four-week median price also took some gains growing more than thirteen thousand from last week to reach $339,000. That’s just a thousand dollars below where it was a year ago.



Average and median prices for Saskatoon homes sold through the MLS from April 16-22, 2017


Historical 6-week average price for Saskatoon homes sold through the MLS from April 16-22, 2017


Historical 4-week median price for Saskatoon homes sold through the MLS from April 16-22, 2017



The number of “at list price” sales doubled this week to ten, and the number of homes that sold above list dropped from two to one. That single seller saw a $2,200 bonus. The remaining 75 trades went for less than the asking price netting those buyers a hefty discount of $15,688. Like this week’s prices, the average discount was skewed by large discounts on those two big sales. Together, those two homes went $415,000 below their asking price contributing some big dollars to the discount pool.



Saskatoon real estate statistics for MLS home sales from April 16-22, 2017



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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