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Saskatoon real estate week in review: August 13-19, 2017


Saskatoon real estate activity cooled some this week as local agents reported 72 firm sales to the local MLS®, down from 87 last week, about 11 fewer sales than were recorded for the same week last year. Meanwhile, the number of new residential listings that were added to the system matched the previous weeks total at 181, which is up from 168 when comparing the year-over-year stats.


The inventory of active MLS® listings reached a new high for the year this week at 2253, up from 2251 at the end of June as inventory grew by 22 units this week. We’re now up about ten percent when comparing to levels seen last year. There were 2052 listings showing an active status at that time. Once again, a new record for our area and a hefty number of homes for this time of year when active listings should be moderating. Today, a search of the MLS® system delivers 1282 single-family homes, up from 1118 a year ago. Additionally, there are 865 active condo listings, up 100 units from a year earlier.


A more typical mix of upper and lower end sales brought both the weekly median price and the weekly average higher to $361,250 and $359,597 respectively. The six-week average saw modest weekly gains of about sixteen hundred dollars and reached $338,652 for a big annual loss topping twenty three thousand dollars. The four-week median price came back after it fell off a cliff last week and closed the week at $331,000. That’s down just eight thousand dollars from a year ago.


The overbid activity was soft, as expected, with just two sellers bagging an above list price offer. They did well though, capturing an average overbid of $4100. Another 64 sales hit the system showing an average discount of $12,549. The remaining six sales were reported to have sold for the asking price.


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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