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Saskatoon real estate week in review: February 16-22, 2014

Firm sales of Saskatoon homes continued to track last year’s numbers fairly closely this week as agents reported 67 deals to the local MLS® system, a drop of 11 from the previous week to finish ahead of the same week last yearby two sales.


New listingsalso slipped lower as Saskatoon real estate agents added just 111 houses and condos to the multiple listing service® database to bring us the slowest week for new listings since the first week in January.  This week’s listing numbers are down by 18 homes on a weekly basis and lower than they were for the same period in 2013 by just one property.


A reasonably strong sales week combined with a drop in new listings brought the total inventory of Saskatoon homes for sale on the multiple listing service® lower. By the close of the week the total number of residential listings sat at 1203, down just nine from last week and still well ahead of levels recorded at the same time list year when home buyers had 1027 properties to choose from. This coming week may bring a bit more relief to inventory numbers. At present, 66 properties are set to expire from the system over the next week. Today, buyers can find 697 single-family homes for sale, up from 609 a year ago. Condominium numbers sit at 391 up from 326 last year.


Sales at the upper end of the Saskatoon real estate market performed strongly again. The median sale price of a home grew by more than twenty thousand dollars to $360,000 while the average jumped a more modest eleven thousand dollars to $369,209. The average price of a Saskatoon home over the last six weeks continued on an upward trend. That number has increased for six of seven weeks this year pushing to $354,319 for a weekly increase of about thirty-five hundred dollars and an annual bump of nearly 24K. Meanwhile, the four-week average price, after sitting rather flat for the first two months of the year, moved higher. It gained almost thirteen thousand dollars over last week to finish up from levels recorded at this time last year by about sixteen thousand dollars.


Two lucky sellers completed a deal with a buyer willing to pay more than list but both overbids were modest at just $100 each. Fifty of the Saskatoon real estate sales recorded this week were completed below the list price to net the buyer an average discount of $8,436. The remaining 15 sales were reported to have sold at the full listed price.


Other notable MLS® activity this week included 33 cancelled and withdrawn listings, 9 expired listings and 38 price adjustments.


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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 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.

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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