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Saskatoon real estate week in review: February 12-18, 2012

Sales of Saskatoon homes bounced back from the first weekly year-over-year decline in 2012 as local real estate agents reported 90 firm house and condo deals to the MLS® this week, up 32 units compared to last week, and ahead of the same week a year agoby 18 homes.


New listings came in lower for the second consecutive week slipping just four units from the previous week to 126 and finishing lower than the same period in 2010 by just a few properties.


Click the image for a larger version of the graph.


A strong sales week prevented the total number of Saskatoon homes offered for sale on the multiple listing service® from gaining any real traction this week. As of this morning, that number sits at 1011, just four units ahead of last week’s close, and 30 units behind levels seen a year ago. Today, we have 574 single-family homes and 351 condominiums that display an active status on the MLS®. Last year at this time, those two categories of housing stood at 567 and 414 respectively.


Click the image for a larger version of the graph.


Over the course of the week, 43 property listings were either cancelled or withdrawn from the system. Another 37 sellers adjusted the asking price on their home. Meanwhile, 19 MLS® listings reached the end of their term and expired without a sale.


An increase in sales in the middle to upper price ranges pushed the average selling price of a Saskatoon higher than the previous week by about thirteen thousand dollars to $306,079. The median sale price for the week pushed up 10K to hit $304,950. The six-week average sale price held pretty steady on a weekly basis and closed the week at $315,510 to claim an annual gain of almost $15,000. The four-week median nudged higher by fifteen hundred dollars over last week to $301,500 and finished $11,600 higher than it did during the same week a year ago.


Click the image for a larger version of the graph.


Overbid activity picked up a bit of steam as seven lucky sellers wrapped up a deal for more money than their asking price. The average overbid came in at $2,915. Another 15 Saskatoon home buyers stepped up and paid the seller’s full asking price to close a deal. Still, 68 of 90 recorded sales came in below the list price by an average of $9,337.


Click the image for a larger version of the chart.


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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®.
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
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