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Saskatoon real estate week in review: February 7-13, 2016


Saskatoon real estate sales remained flat on a week-over week basis as local agents reported just 56 firm residential sales to the multiple listing service®, down from 63 for the same week last year. Meanwhile, the number of new listings added to the MLS® surged higher. A total of 186 residential properties were offered for sale, up nine from last week and well exceeding the numbers recorded during the same period last year by 26 homes.


After a few weeks of very slow movement including one unanticipated drop, the database of active MLS® listings made up for lost ground as it spiked higher to 1684 Saskatoon homes. That amounts to a weekly increase of 65 units, up on an annual basis by 184. Today’s totals include 910 singe-family homes, up from 883 last week. That’s enough for an annual increase of 53 properties. Condo inventory currently sits at 616, up from 576 at last week’s close for a year-over-year gain of 106 units.


A reasonable mix of sales between the entry level and the upper end kept the median sale price of a Saskatoon home fairly stable this week at $327,500 even while a good handful of sales above the $500K mark pushed the weekly average sale price higher to $342,667. One “mobile home” sale at $12,000 kept it from shooting even higher. In longer term measures, this week saw the six-week average grow by four thousand dollars to reach $353,585 which is down nearly seven thousand dollars from levels recorded at this time last years. Meanwhile, the four-week median price made some modest gains increasing by three thousand dollars from last week to reach $338,000 to finish precisely where it had a year earlier.


This week brought some stories of multiple offers on a few hot listings. I can attest to two such scenarios that happened with agents in my office. Still, only one buyer made an offer above the seller’s asking price, that one paying a bonus of just $1000 to the lucky recipient. Another five sellers did manage to wrap up a deal for their full asking price while 49 of this week’s 56 deals dealt the buyer a discount that averaged a solid $14,308.


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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