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Saskatoon real estate week in review: February 26 - March 3, 2017


It was a busy week for Saskatoon real estate agents. Residential sales reached their highest point since late October of last year as agents reported 75 firm deals to the multiple listing service® for a weekly increase of 23 properties. Sales were also well up from the same week last year when just 54 deals firmed up. New listings also came on strong as they often do during the first week of the month when listings that met the end of their term without a sale the previous week rush back on the market for another go. Total new listings came in at 243, which is up nearly one hundred units from the week before, but down by 11 compared to the same period last year.



Saskatoon residential MLS ® sales and new listings for the week of February 26 - March 3, 2017



The inventory of Saskatoon homes for sale on the MLS® system inched higher this week as it grew by just 17 units from a week ago to reach 1738. At the close of the same week last year there were 1811 active residential listings on the system. This is the fourth consecutive week that active listings have come in below levels recorded the previous year. This fourth annual decline produced the largest year-over-year drop since late October of last year. As of this morning, there are 897 single-family homes for sale on the multiple listing service®. That’s up three from a week earlier, and down 40 from last year. Condo inventory is at 690 today, up seven from last week and down twelve on an annual basis.



Active residential listings on the Saskatoon MLS® at March 3, 2017



Following a few weeks during which entry-level buyers dominated the sales activity, upper-end home buyers showed up this week and drove all of our price measures higher. First, the weekly median grew by nearly 60K to hit $373,000 while the weekly average picked up about 30K as it soared to $371,452 thanks to 13 sales that produced a sale price of $500,000 or more. The six-week average price edged higher and grew by about four thousand dollars from the close of the previous week. That brought it to $343,807 which is up eighty-five hundred dollars from a year earlier. The four-week median price grew 10K to hit $326,000  for an annual increase of six thousand dollars.



Average and median prices for Saskatoon homes sold through the MLS® from February 26 - March 3, 2017


Historical six-week average price of Saskatoon homes sold through the MLS® from February 26 - March 3, 2017


Historical four-week median price of Saskatoon homes sold through the MLS for the week of February 26 - March 3, 2017



Once again, sellers were shut out of overbidding situations, even as some listings generated multiple offers. There were eight deals reported to have sold at the asking price. Meanwhile, 67 Saskatoon home buyers ground themselves a discount that averaged $13,708. The largest discount this week was recorded on a Rosewood area bi-level that sold for $85,000 below list price after more than seven months on the market.



Saskatoon real estate statistics for residential MLS® sales from February 26 - March 3, 2017



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

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale.Less...

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale. Known locally as an impact leader he supports many organizations that serve our community’s most vulnerable people like the Saskatoon Interval House, the YWCA Crisis Shelter, the Lighthouse, the Friendship Inn and others. He has participated in several physically daunting charitable challenges and helped raise over one million dollars for women's shelters across Canada. Additionally, he’s a charter member of 100 Men Who Give a Damn in Saskatoon, a group of local philanthropists who are driven to bring positive change to those in need within our community. Fisher is a licensed real estate broker and owner of Royal LePage Vidorra, a boutique brokerage known for technology and innovation.

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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