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Saskatoon real estate week in review for June 10-17, 2018


The Saskatoon real estate market recorded its highest volume sales week for the year as local agents reported 103 residential sales for the period, up from 77 last week, and even topping sales for the same week a year earlier when 90 Saskatoon homes traded hands.

New listings also came on strong at 222 units but fell short of breaking any records for the year. Still, that number is up from 209 the week before and 203 for the same period last year.


Sales


The inventory of active MLS® listings grew by just 24 this week to reach 2023 by this morning. This is its first appearance above the 2K line this year. At the close of the same week last year buyers had a selection of 2251 active listings to chose from. That particular week saw inventory reach its highest level that I ever recall it reaching. Today’s totals include1071 single-family homes, down from 1243 at this time last year, and 828 condos, down 14 units from a year earlier.


Actives


With this week’s highest-priced sale falling below the 600K mark, the weekly average sale price of a Saskatoon home slipped about 27 grand to $322,890. A fairly stable mix of sales at both the upper and lower end of the market kept the weekly median from sliding nearly as much, though it fell about five thousand dollars to $320,000. Meanwhile, the six-week average price slipped four thousand dollars from last week to settle at $332,450 down just $2500 annually. The four-week median price went up to $325,000 for a weekly gain of five thousand dollars and an annual drop of $7,450.


Price


Three sellers attracted offers for more than they were asking. One wild overbid of $60,000 on a City Park home skewed the average discount wildly high to $20,803. While 13 buyers agreed to pay the seller’s asking price, 87 insisted on a deal and ground themselves a discount averaging $12,253.


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.
 

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