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Saskatoon real estate week in review: August 2-8, 2015

On the heels of the only three week run during which sales exceeded those recorded during the same week last year, the Saskatoon real estate market seemingly hit the skids as the total number of residential properties to change hands tumbled to just 62, down from 104 last week, and falling short of last year’s number by 24.

The number of new listings added to the multiple listing service® climbed, as it often does during the first week of each month when listings that expired as the calendar turned come back out for another go at the market. This month, the increase was small. Local REALTORS® added 179 Saskatoon homes to the MLS® system for a weekly gain of just two, up 18 from the same period last year.


Active Saskatoon real estate listings took some small gains as the inventory grew from 1996 at the close of last week to 2004 today, up 439 homes from a year ago. Today’s inventory shows 1166 single-family homes, up from 977 a year ago and 646 condominiums up from 488 a year ago.


A little more activity at the upper end of the market brought the weekly median price higher to $356,000 but that was not enough to keep the weekly average from slipping some to $356,180. Meanwhile, the six-week average price edge lower nearly four thousand dollars from where it stood a week ago. By the time the weekly sales had been tallied that number stood at $357,279 down close to four thousand dollars from the same week last year. The four-week median slipped just over a thousand dollars on the week to settle at $346,250 to find itself up from a year ago by roughly six thousand dollars.


Given the weakness in activity levels this week, it was a bit of a surprise to see four of this week’s sales going for more than list price with an average overbid of $3,075. Another 54 deals closed below the list price showing a strong discount averaging $12,217. The remaining four sales closed at the seller’s asking price.


Other notable real estate activity this past week included 75 cancelled and withdrawn listings (73 and two respectively), 30 expired listings and 69 price changes.


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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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