CONTACT

Saskatoon real estate week in review: August 3-9, 2014


Saskatoon real estate sales softened compared to last week but made some small gains on an annual basis for the second consecutive week. Local REALTORS® reported 86 firm house and condo sales to the multiple listing service®, down 28 sales from an exceptional performance last week to finish 17 ahead of reported sales for the same period a year ago.


The flow of new listings added to the MLS®slowed as well. Total new listings (houses and condominiums) came in at 161, 42 fewer than were listed last week, but again, well up over the same period last year when just 131 Saskatoon homes hit the market.


The total number of residential listings displaying an active status on the Saskatoon multiple listing service® continued to sit at near peak levels for 2014. Today there are 1565 properties for sale, up just three from last week for a year-over-year increase of 244 units. The inventory of single-family detached homes increased ten from last week to 971 for a year-over-year increase of 168. Condo inventory actually inched lower dropping nine from the inventory over the course of the week to close the week ahead of last year by just 26 homes.


In spite of a couple of sales that passed the $800,000 mark, a good showing of entry level buyers added nine sales below $200K to this week’s number causing both the median and the average price paid for a Saskatoon home to fall lower to $327,400 and $351,540 respectively. Still, the six-week average price managed to inch up gaining about $500 from last week to reach $360,910 and finish ahead of last year’s number by 18K. Meanwhile, the four-week median took a solid slide losing eleven thousand dollars compared against last week  to close about twelve thousand dollars ahead of the same week last year.


While the number of buyers willing to pay more than asking price remained low at just five, they paid a strong bonus to their seller that averaged $10,870. On the flip said, 70 Saskatoon real estate buyers made off with a discount averaging $11,050. The remaining 11 sales closed at the seller’s full asking price.


Other notable real estate activity this past week included 74 cancelled and withdrawn listings (51 and 23), four expired listings and 52 price changes.

Highlights from the news this week

Saskatoon housing inventory at six year high: Realtors - Star Phoenix
Should your home’s selling price be public information? - The Star
High home prices send 35-44 aged cohort to top spot for debt - Globe and Mail


Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.


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 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.
 

Posts By Date
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®.
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatoon Region Association of REALTORS® displayed on this site is refreshed every 2 hours.
Google Analytics Alternative