CONTACT

Saskatoon real estate week in review for December 23-29, 2018 (edition #616)


The final week of the year for the Saskatoon real estate market was quiet, as it always is. Local agents reported just 18 firm residential sales, down for 52 last week, but finishing ahead of Christmas week last year by two.


New listings also fell off as just 25 Saskatoon homes were added to the multiple listing service® database, a drop of 50 from the previous week, and down by one compared to the closing week of 2017.


This week marks the bottom of the annual real estate cycle which typically peaks in April, May or June, and then begins a slow and steady decline that finishes here.


Sales


Active MLS® listing inventory fell to its lowest point in a year. As of this morning there are 1498 residential listings showing an active status on the Saskatoon multiple listing service®, down 35 units from a week ago. Looking back to last year, there were 1607 Saskatoon homes available to buyers as the final week of 2017 closed. Today’s totals include 836 single-family homes for an annual drop of 31. Condo listings total 568, which is just two fewer than were available last year at this time.


Active


Prices were off the charts high with four of this week’s 18 sales recording a sale price exceeding $500K. The weekly median price came in at $379,500 and the weekly average was $431,744. The six-week average price grew by close to three thousand dollars from last week and reached $337,439. That’s down from the closing week of 2017 by about twenty-eight hundred dollars. The four-week median price also took some gains, up $8,500 from last week to $328,000. That was enough to claim an annual increase of four thousand dollars.


Price


Two sellers were lucky enough to secure an offer at their asking price. The other 16 gave up some dough to make a deal netting buyers an average discount of $15,0000.


Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that those sales that do show a sale price that is greater than the list price are all new properties that spent some period of time on the market, and most likely included additional improvements that were not reflected in the original list price. We report these to you as “at list price sales”, which is likely too generous in some cases, but it’s simply not practical to obtain the full details of each sale.


List


More weekly stats and numbers for those who love them.


General


As another year for the Saskatoon real estate market draws to a close, I thank you for continuing to show up here to read my work. I wish you and yours the very best that 2019 has to offer.


Thank-you for reading TeamFisher’s Saskatoon Real Estate Week in Review.


I’m always happy to answer your Saskatoon real estate questions.  Please feel free to call or text me at 306-241-6676 or reach me by email at norm at teamfisher dot com.


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.
 

Posts By Date
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.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatoon Region Association of REALTORS® displayed on this site is refreshed every 2 hours.
Google Analytics Alternative