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Saskatoon real estate week in review for October 21-27, 2018 (edition #608)


Saskatoon real estate sales saw a slight increase this week as local agents reported 64 firm residential transactions to the multiple listing service®, up from 58 for the previous week, but down 10 units when compared to sales for the same period last year.


The number of new listings added to the MLS® matched last week’s totals at 118. That number is lower than it was over the same week last year by 14.


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The total number of Saskatoon homes available to home buyers through the local MLS® slipped lower again to 1813. That’s down just 21 from last week’s close, and lower than it was on the same day last year by 193 properties. Once again, the majority of the annual declines are counted in the single-family homes category which has fallen lower from 1179 at this time last year to 1004 today. Condo inventory is also down but to a lesser degree. Today, Saskatoon home buyers can find a selection of 695 condos on the MLS®, down from 712 a year ago.


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On the heels of a week that was dominated by entry level sales, the average price of a Saskatoon home bounces higher by more than thirty grand to reach $336,056. The median price for the week saw a 42K gain as it climbed to more typical levels at $321,000. The six-week average priced moved higher by about four thousand dollars compared to last week. It settled at just a thousand dollars below the number recorded for the same period last year. Meanwhile, the four-week median price lost four thousand dollars from a week earlier as it slipped to $316,000 for an annual decline of nine thousand dollars.


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Sellers hoping to create a bidding war were shut out this week. No resale properties reported a sale price above the seller’s asking price. On the other hand, 60 Saskatoon homes traded after a negotiation that led to a discount for the buyer. The average drop from the list price was $13,055.


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.


More weekly stats and numbers for those who love them.


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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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