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Saskatoon real estate week in review for November 25 - December 1, 2018 (edition #612)


After a big bounce in residential sale numbers last week the Saskatoon real estate market cooled again. Unit sales fell to just 49, down from 66 the week before, but ahead of numbers recorded over the same period last year by two.


New listings fell to their lowest level this year as local agents added just 90 Saskatoon homes to the MLS®. That’s 55 fewer homes than were listed the previous week, and 16 fewer than were offered up for sale on the system over the same week of 2017.


Sales


The inventory of active residential real estate listings available through the multiple listing service® fell to 1631 by this morning as 122 linstings came to the end of their term without a sale. Total listings slipped by 111 units from last week and is down by nearly 150 homes from a year ago and now at the lowest level recorded since mid-March. A closer look at the major categories of housing shows 917 single-family detached homes for sale in Saskatoon, down from 1007 at this time last year. Condo inventory fell by 45 on an annual basis leaving us with 608 properties bearing an active status.


Actives


A solid showing of buyers at the upper end of the real estate market pushed the weekly average sale price, and the weekly median price higher to $339,884 and $325,000 respectively. The six-week average price moved higher as it has during five of the past six weeks. It finished the week at $340,505. That is up more than seven thousand dollars from last week, enough for an annual gain of about twelve hundred dollars. This is also the first time the measure broke $340K since mid-February. Meanwhile, the four-week median price slipped lower by twenty-five hundred dollars from a week earlier to close the period up annually by more than eleven thousand dollars.


Price


One Saskatoon home seller found themselves in a bidding war resulting in a sale price that exceeded their asking price by two thousand dollars. Buyers won the week with 43 of 49 sales reporting a sale price that netted those buyers an average discount of $14,388.


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

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.
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