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Saskatoon real estate week in review: August 18-24, 2013

The Saskatoon real estate market saw a week of sales that was fairly typically for the season. Local agents reported a total of 86 firm house and condominium sales to the Saskatoon multiple listing service®, 12 fewer sales than were recorded the previous week, and down eight units compared against the same week a year ago.


If you only had the new listings data to look at you might think it was spring as Saskatoon real estate agents brought 164 houses and condos to the MLS® market, down just five from last week’s heavy load and way above the 106 Saskatoon homes that were placed on the market over the same period of time in 2012.


MLS® inventory continued to climb this week as the total number of active listings in the residential category reached 1,380 for a weekly gain of 18 homes and a year-over-year increase of 158 listings. For those of you interesting in percentages, that’s a 14 percent increase on last year’s numbers. It’s just seven units short of a five-year record level of inventory for this time of year. In 2010, total residential listings reached 1387 this particular week, so we’ve been here before. Today’s numbers, by category of housing show 848 single-family homes and 422 condominiums available to Saskatoon home buyers. At this time last year, active listings for those two housing types stood at 747 and 400, respectively.


Just slightly more activity at the upper end of the Saskatoon real estate market brought the median sale price of a local home higher by about thirty-five hundred dollars to $333,450. In spite of one residential sale that topped the million dollar mark, the average sale price of a Saskatoon home slid lower by almost seven thousand dollars to $345,141. Meanwhile, the six-week average price fell almost two thousand dollars from last week to $344,809 and finished up on the same week last year by just seven thousand dollars. The four-week median price inched higher picking up two thousand dollars over the course of the week to reach $335,000 and claim a year-over-year increase of close to 10K.


Overbid sales slipped to just three this week. Those sellers made off with an extra $10,067 on average. At the same time, 73 of this week’s 86 sales reported a sale price that was lower than the asking price by an average of $9,895. The other ten reported deals closed at the seller’s asking price.


Other MLS® activity this week included 60 cancelled and withdrawn listings, 10 expired listing and 55 price adjustments.


Highlights from the news this week


Developer lauds plans for River Landing project - Star Phoenix
No more tightening needed after measures averted housing bubble: Flaherty - Financial Post
Prime retail space scarce in Saskatoon - Star Phoenix//

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.


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Norm Fisher
Royal LePage Saskatoon Real Estate

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.

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