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Saskatoon real estate week in review: August 30 - September 5, 2015

Saskatoon real estate agents reported a total of 85 residential sales to the local multiple listing service® this week, down three from the previous week but topping sales for the same seven day period a year ago by 17 properties. This week saw the largest number of new listings for any week since early June as many of the listings that expired at the end of August, returned for another go at the market. Agents added 256 Saskatoon homes to the MLS® this week, up from 212 last week for an increase of 90 homes when compared to the same period in 2014.


Following three weeks of growth to the total number of active MLS® listings, inventory took a small dip to 2033, a drop of 26, to close the week up on levels recorded at this time last year when there were 1553 Saskatoon homes available in the MLS® database. Single-family homes inventory slipped lower this week to 1168 units, but finished well up from 984 at this time last year. Condo inventory fell by about 25 units over the past seven days bringing our total to 663, about 220 ahead of levels recorded a year ago.


The weekly median price remained stable at $335,000 an indication that the levels of activity at both the upper end of the market, and the lower end remained constant. By every other measure that we track, prices slipped lower this week. The average sale price of a Saskatoon home fell to just $329,019 and reached its lowest point since early April. The six-week average price slid about seven thousand dollars to settle at $350,194 reaching a low not seen since early May. It closes the week down from where it sat a year ago, again by about seven thousand. Finally, the four-week median price declined by more than four thousand dollars compared to last week. It comes in at $344,500 which amounts to an annual increase of roughly seven thousand dollars.


Four sellers reported a deal for more than the asking price, and another four got all that they were asking for. Meanwhile 77 deals closed with a discount averaging $9,728.


Other notable real estate activity this past week included 101 cancelled and withdrawn listings (96 and five respectively), 121 expired listings and 80 price changes.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.
 

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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