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Saskatoon real estate week in review: January 11-15 2010

Saskatoon home sales continued to move at a slower than expected pace this week as real estate agents reported firm sales on just forty single-family homes and condominiums. Forty sales marks a notable increase from last week when just twenty-five homes sold, but it leaves us down on a year-over-year basis for the second consecutive week following a long string of weekly increases. During the same week last yearSaskatoon real estate agents reported forty-eight sales for the same period.


New listings, on the other hand, picked up a bit of steam and increased to eighty-seven properties, up from seventy-five last week, but still down compared to the same week last year when ninety-three Saskatoon homes were offered for sale on the multiple listing service.



With new listings more than doubling our sales volume active listings pushed higher again to reach 695 units, up from 665 last week, and well above the year end low of 619 properties. Year-over-year, total active residential listings remain sharply lower than the 1191 units which were available at this time last year.


On a week-over week basis, the inventory of single-family homes remained steady at 388, while condo inventory pushed higher from 235 units to 259. The remaining gains to the inventory were mostly seen in duplexes and semi-detached homes.



The average selling price of a Saskatoon home moved lower for the third consecutive week, falling roughly nine thousand dollars from last week to $249,861. The six-week average saw similar movement in the same downward direction to finish the week at $283,509, about thirteen thousand dollars higher than it was for the same period last year. The four-week median tumbled the hardest falling seventeen thousand dollars on a week-over-week basis to just $252,850, lower than the same week in 2009 by a little better than twelve thousand dollars.


Click the image for a larger version of the graph.


The average underbid gained about six hundred dollars compared to last week but still fell short of the ten thousand dollar mark at $9,628. Lower list and sale prices saw the average discount rise to 3.7%, up from 3.1% last week.



I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.


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Norm Fisher
Royal LePage Vidorra

Norm Fisher, TeamFisher

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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