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Saskatoon real estate week in review: August 7-13, 2016


After falling completely flat last week, Saskatoon real estate sales surged upwards as 80 new firm sales were reported to the multiple listing service®, an increase of 17 from the previous week and up by 16 when compared against sales recorded during the same week last year. Listing activity saw some slight gains as they grew to 196, ahead of last week by two, to finish showing fewer new listings than were processed during the same period of 2015 by five.


The inventory of residential MLS® listings took a turn upward as well. By this morning, buyers could find 2067 Saskatoon homes for sale, up from 2044 a week ago, just 19 more homes than were available a year ago today. That is the smallest year-over-year increase to the inventory that we’ve seen all year. Today, there are 1116 single-family homes for buyers to select from, well down from the 1181 detached homes that were available a year ago. Condominium inventory continued to grow and reached 777 by the close of the week for an annual increase of 116 units.


More high end activity caused the median sale price for the week to grow by almost 20K as it reached $343,000 while the average sale price fell a fair bit lower to $348,418. Remarkably, the six-week average price continued to grow reaching a new high for the year at $366,472 for an annual increase on more than six thousand dollars. That’s actually the highest point that it has been at since late 2014 when sales were still red hot. On the other hand, the four-week median price fell by seven thousand dollars from last week. It settled at $338,000 to find itself down from a year ago by seventy-five hundred dollars.


Only one buyer made an offer of more than list price with that seller netting a $3,100 bonus while another five deals closed at the seller’s asking price. The remaining 75 sales went for less than asking price winning those buyers an average discount of $11,353.


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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