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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.

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