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Saskatoon real estate week in review for January 26 - February 2, 2019 (edition #621)


Saskatoon real estate agents reported 47 firm residential sales to the multiple listing service® over the past week matching numbers recorded the week before. That left us short by nine sales when comparing the numbers against results from the same week last year. That said, January proved to be a decent month with 201 Saskatoon homes trading hands, even with January 2018.


New listings saw increased activity compared to the previous week while falling well below last year’s activity for the same week. Local REALTORS® added 108 Saskatoon residential properties to the MLS®, up from 95 a week earlier, but a decline of 26 from the same period last year.


Sales


The total number of Saskatoon homes listed for sale on the multiple listing service® fell lower as the final week of January closed and 103 listings expired without a sale. As of this morning, the MLS® system showed 1391 properties, down from 1444 at last week’s close, and down further from the close of the same week last year when 1518 properties showed an active status.


In that mix, we have 767 single-family homes, down from 794 a year ago. Condo inventory has fallen even further to settle at 546 today, down from 636 at this time last year. A 15 percent drop in this category is encouraging and reflective of the massive decline in the number of new condominiums that are completed but unoccupied.


Active


The average price of a Saskatoon home took a jump this week thanks to a couple of big sales. It reached $344,528. The median price for the week also edged higher to $308,000. Both of the longer-term measures we track recovered a bit. The six-week average price grew nearly eight thousand dollars from the week before to reach $316,809 which is still nearly 25K below the levels it had reached a year earlier. The four-week median price grew to $289,750. That’s up about twelve thousand dollars from last week but a remarkable 50K lower than it was at the close of the same week in 2018.


Prices


There were two overbid sales this past week, both fairly substantial at $51,100 and $16,600. Meanwhile, 41 of the week’s sales closed below the seller’s asking price netting those buyers an average discount of $13,485.


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

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.
 

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