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Saskatoon real estate week in review: December 6-12, 2015

As we enter the final weeks of the year, activity starts to slow as it always does, and the numbers begin to get close to meaningless because the sample size is so small. That said, this was one of the rare weeks where we found ourselves with higher sales when compared against the same week last year so we’ll celebrate that. I will, anyway.

Saskatoon real estate agents reported a total of 54 firm residential deals to the local multiple listing service®, down from 62 the previous week, but up from 41 on a year-over-year basis. New listings, one the other hand spiked higher growing by 20 units compared to last week, reaching 127 homes for an annual increase of 50 listings.


On the heels of a week that saw the largest reduction to the active inventory of MLS® listings this year, that decline slowed to just 20 units this week. As of this morning, the Saskatoon MLS® system shows 1739 active residential listings, up from 1351 at the close of the same week in 2014. There are currently 948 single-family homes in the “active” category, down from 961 last week, and ahead of the 799 homes available at this time last year. Condo levels sit at 604, a bit up from the 596 reported as active last week, and well up from 406 a year ago.


Lower end real estate sales increased in numbers this week and ushered the median sale price of a Saskatoon home slightly lower to $351,125 while some big numbers at the upper end pushed the average sale price sharply higher to $383,706. Both longer term measures took an upward path as the six-week average price grew by a bit more than five thousand dollars from last week reaching $361,965, its highest level since July. This would be the first week that the six-week average has shown an annual increase since the first week of August. It’s up on the same week last year by just a few hundred dollars. The four-week median price grew by nearly 5K compared to last week’s close . It finishes the week at $349,900 to find itself even on an annual basis.


Two of this week’s 54 sales were reported to have sold at a price greater than the list price, each by just $100. Another four sales closed at the full asking price. Buyers won at the negotiating table in the other 48 closed deals and those discounts average $13,048 off of the asking price.


Other notable real estate activity this past week included 57 cancelled and withdrawn listings (53 and four respectively), 46 expired listings and 43 price changes.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.
 

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