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Saskatoon real estate week in review: February 14-20, 2016


For the fourth consecutive week, Saskatoon real estate sales fell short of meeting numbers generated during the same week last year. Local agents reported just 48 firm deals to the Saskatoon MLS® this week, down from 56 last week, to finish below numbers recorded during the same week last year by two dozen. A look back at the holiday calendar confirms that Saskatchewan’s “Family Day” fell within the same week in 2015, so we can’t use the short work week as an excuse.


The number of new residential real estate listings added to the Saskatoon multiple listing service® also fell lower on both a weekly basis, and year-over-year. A total of 130 Saskatoon homes hit the MLS® system this week, down from 186 a week ago, and 20 off of last year’s totals.


The number of homes available in the inventory of MLS® listings moved higher and reached 1715 by this morning. That’s up 31 from a week ago, and ahead of levels recorded on this date last year by 201 properties. Today’s totals show 911 singe-family homes displaying an active status. That’s up from 824 a year ago. Condominium inventory started the day at 647, an increase of 129 units from where we sat a year ago.


With just one sale recorded above $500,000 and three falling below $100,000 both the weekly median and the weekly average sale price tumbled to $323,500 and $323,957 respectively. The longer term measures followed along, both falling pretty significantly for a one week period. The six-week average moved nearly 12K to finish the week at $341,859 down almost eighteen thousand dollars from the same week last year. Meanwhile, the four-week median fell four thousand dollars to settle at $323,500 for an annual loss on $11,500.


Sellers didn’t find a whole lot of love this week. Not a single buyer offered to pay more than list, in spite of the known bidding activity that I reported in last week’s post. There were five buyers who stepped up and made a full price offer, while the remaining 43 insisted on a deal negotiating an average discount of $14,830.


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.

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