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Saskatoon real estate week in review: December 11-17, 2016


Saskatoon real estate activity continued to follow a typical seasonal pattern as residential unit sales fell by three compared to last week for a total of 51 trades, five more than were conducted during the same week last year. Meanwhile, the number of new listings added to the Saskatoon MLS® remained stable at 116, a change of just one from last week, beating last year’s number by 16 homes.


The total number of active residential listings on the multiple listing service® slipped marginally lower from 1687 at the close of the previous week to 1662 today. That comes in short of last year’s levels by a mere 26 homes. It would appear that this year is about to wrap up with as much inventory as we had at the close of 2015. There are some shifts within the major housing types, however. For instance, single-family homes inventory sits at 866 today, down from 926 a year ago. Condo inventory has grown from 583 a year ago to 649 today. Construction on a large number of new units has wrapped up in the past couple of months and that’s likely what’s been pushing the condominium numbers higher.


Entry-level activity dominated the sales board this week with eight sales at prices below $200,000 and only two that topped $500K. The weekly median price slipped to $310,000 to find itself at its lowest point in a few months time. The weekly average sale price of a Saskatoon home fell more to $321,605. The six-week average sale price stayed fairly stable dropping just $900 from last week to $344,903 to find itself down ten thousand dollars on an annual basis. The four-week median price took its fourth consecutive weekly decline and finished the week at $329,900 for an annual loss of seventeen thousand dollars.


Buyers won the week at the negotiating table as 48 of them wrapped up a deal below the asking price by an average of $12,450. Another two paid the full asking price. Finally, one excited buyer closed their deal with a $30,100 overbid, no doubt leaving their seller feeling particularly lucky going into the holidays.


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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