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Saskatoon real estate week in review for September 1-8, 2018 (edition #601)


Saskatoon real estate sales took a downward turn as just 51 firm residential sales were reported to the multiple listing service®, well down from 73 the previous week and falling short of numbers generated during the same period a year ago when 56 homes traded hands.


Meanwhile, new listing numbers moved higher to 158, a gain of eight compared to the previous period, but down by nine on an annual basis.


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The inventory of active MLS® listings in the residential category grew this week. By Saturday morning, our total number of Saskatoon homes offered for sale sat at 1966, which was 29 more than were available one week earlier. At the close of the same week last year active listings sat at 2104. There are currently 1089 single family homes for sales, compared to 1218 a year earlier. Condominium inventory is at 755, down from 788 at the close of the same week in 2017.


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There was a shortage of upper end sales in this week’s numbers. Both the weekly average sale price and the median sale price of a Saskatoon home fell lower to $316,195 and $315,000 respectively. The six-week average price dropped for the third consecutive week to $327,836. That’s about three thousand dollars lower than it was the previous week, and down about $12,500 from a year earlier. The four-week median price finished the week at $314,400. That’s down just six hundred dollars from the previous week but nearly $26,000 lower than it was a year ago.


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Sellers hoping for a bidding war to drive their price up were disappointed this week as not a single sale was reporting a sale price above list. Meanwhile, 46 of this week’s home buyers managed a discount averaging $11,924.


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.


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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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