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Saskatoon real estate week in review for February 16-22, 2019 (edition #624)


The Saskatoon real estate market recorded its strongest sales week for 2019 as 59 firm residential deals were reported to the MLS® system.


The total of new listings added to the multiple listing service® grew marginally to 105, up from 99 the previous week and down by one compared to the same period last year.


Sales


The number of Saskatoon homes for sale on the MLS® grew by eight this week to 1426, which is down from 1573 a year earlier. While active listing numbers are slow in making gains compared to most years, the line on our chart looks a lot like last year’s. In 2018, it wasn’t until close to the middle of March that listing inventory began to grow at a more typical pace. Still, with far fewer new condominiums for sale, I expect that this year’s active inventory will fall short of last year’s right through spring.


Included in the total inventory we have 770 single-family homes for sale, down from 836 a year earlier. The condo category has fallen to 567, from 653 a year ago.


Actives


The first residential sale above the $1 million mark for 2019 was recorded this week. Even with that one in the mix, the average sale price for the week slipped lower to $338,230. Meanwhile, a bit more activity at the upper end pushed the weekly median price higher to $318,000.


The six-week average price took a jump of nearly 15K from where it was a week ago. It reached $329,015 which is just eight thousand dollars lower than it was at the close of the same week last year. That’s the smallest annual drop we’ve recorded in several months time. The four-week median price grew for the fourth consecutive week to reach its highest point since the opening week of 2019. It closed at $310,000. That’s up $2000 from a week ago, but down close to 20K annually.


Price


Two sellers got a break that led to some overbidding on their home. One of the two homes sold for $20,000 more than the asking price, while the other went $200 over. On the flip side of the negotiating table, 52 buyers made off with a discount averaging a hefty $14,645.


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


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.
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