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Saskatoon real estate week in review: December 15-21, 2013

The number of homes sold remained stable this week, even as the holidays drew nearer. Saskatoon real estate agents reported 44 firm house and condo sales to the Saskatoon multiple listing service®, two more than were sold the previous week and ten fewer than the total number traded during the same week last year.


The number of new MLS® listings(condos and houses) moved in the same direction slipping to its lowest level for any week this year. Saskatoon real estate agents added 62 listings to the local MLS® this week, down 33 from last week. Once again, new listings were higher than they were during the same week last year (47) as they have been for 19 of the past 21 weeks.


The total inventory of MLS® listings in the residential category shed some numbers and moved lower by 50 units to reach 1158, its lowest level since the week of May 4,but well ahead of totals for this date last year when just 951 Saskatoon homes were offered for sale on the multiple listing service®. The number of single-family homes bearing an active status slipped to 707 from 740 last week while condo inventory remained steady at 351. Last year at this time, Saskatoon home buyers had just 579 houses and 275 condos to choose from.


With only one reported sale over the $500,000 mark both of the weekly measures took a dive. The average sale price of a Saskatoon home slipped to just $316,577 while the weekly median price fell to $325,500. The longer-term measures went in opposite directions as the six-week average slipped lower from the previous week by a little more than four thousand dollars to settle at $342,444 and finished lower than it did for the same week last year by nine thousand dollars. Meanwhile, the four-week median price edged higher by six thousand dollars compared to last week. That wasn’t enough to keep it from falling short of the levels we saw during the same week of 2012 when the four-week median price of a Saskatoon home was fourteen thousand dollars higher.


Overbid sales were non-existent in this week’s sales, to the best of my recollection, for the first time this year. In fact, only two lucky sellers managed to find a buyer willing to pay their asking price. Buyers definitely had the upper hand as 42 of this week’s 44 sales closed at a price that was below the seller’s list price by an average of $8,747.


Other notable MLS® activity this week included 27 cancelled and withdrawn listings, 32 expired listings and just 13 price adjustments.


Highlights from the news this past week

Women the new wildcard in the condo market - Financial Post
Housing market defies expectations with latest CREA figures - Globe and Mail
CMHC draws a line under condo bubble fears - Financial Post
Canadian housing sales show surprising resiliency- Financial Post


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.
 

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.

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