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Saskatoon real estate week in review for December 9-15, 2018 (edition #614)


Saskatoon real estate sales slipped lower this week as local REALTORS® reported 44 firm residential trades to the MLS®. That is lower than the previous week by seven and falls short of sales for the same period last year by 19.


The number of new listings that were added to the multiple listing service® database fell to 86, down from 109 the previous week. During the same week last year, only 70 Saskatoon homes were listed for sale.


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The number of Saskatoon homes available to buyers on the MLS® system fell marginally lower this week to 1596 and made its first sub 1600 finish since mid-March. That’s just seven fewer listings than were available at the close of the previous week. At the end of the same week in 2017 there were 1678 residential properties on the system.


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The mix of high-end versus lower end sales was fairly stable compared to the previous week. The median sale price for the week moved marginally lower to $322,000. Meanwhile, the weekly average sale price of a Saskatoon home took a huge bounce to $380,000 due to a single sale at $2.6 million. That is the highest residential sale price ever reported to our MLS® for a Saskatoon home. The closing price tops the previous high sale price within the city by $290,000.


The six-week average sale price edged higher by six thousand dollars compared to the previous week. It came in at $340,439 from an annual increase of roughly fifteen hundred dollars. The four-week median price moved in the opposite direction as it lost four thousand dollars from last week to finish up at $325,000. That’s up two thousand dollars from the close of the same week last year.


Price


Once again, we saw one lonely listing reported to have sold for a price that was greater than the seller’s list price. That sale saw an overbid of $900. Buyers exercised their clout at the negotiating table and managed a discount that averaged more than $22,000 on 41 of the week’s 44 sales. It’s worth noting that the $375,000 discount negotiated on the $2.6 million dollar sale skewed the overall average discount by $8500. If that sale were not in the mix, the average discount would be closer to $14,000.


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.


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More weekly stats and numbers for those who love them.


General


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

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 1400 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.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
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