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Saskatoon real estate week in review for March 30 - April 5, 2019 (edition #630)

Following four consecutive weeks of sales growth, Saskatoon homes sales slipped lower to 74 this past week, down from 79 the week before. That tally falls short of numbers generated during the same week of 2018 by three.


Meanwhile, new listings were through the roof as Saskatoon real estate agents pushed 199 properties to the MLS®, up 49 from last week, and about even with the same period last year. A good chunk of those were listings that had expired at the close of March.


Sales


The MLS® inventory of Saskatoon homes for sale jumped from 1600 at the close of the previous week to 1656 today. While still lower than they were at this time last year when there were 1722 properties for sale within city limits, today’s numbers produce the smallest year-over-year decline to the inventory for any week this year. Week by week that decline seems to be slipping away.


Today we have 901 single-family homes for sale, down from 912 at this time last year. There are currently 663 condominiums showing an active status, down from 716 a year ago.


Active


More upper end housing activity pushed the median price slightly higher this week to $321,500. The average sale price of a Saskatoon home grew even more to $335,836. The six-week average price inched up to $322,611 for a weekly increase of a few hundred dollars and an annual loss amounting to nearly twelve thousand dollars. The four-week median price fell lower for the third consecutive week to settle at $310,000. That amounts to a weekly decline of less than two thousand dollars and an annual decline of 10K.


Prices


There were two overbid sales reported this week, one at just $100 more than the seller’s asking price, the other paying a bonus of $25K. Meanwhile, 66 of this week’s sales went below the list price by an average of $12,026.


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


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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®.
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