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Saskatoon real estate week in review: January 15-21, 2017

The number of firm Saskatoon real estate sales took a small dip this week as local agent reported just 39 residential trades, a decline of three from the previous week, and seven fewer than we saw during the same period of 2016. Meanwhile, the number of Saskatoon homes that were listed for sale inched down by one this week to 167 to finish well above last year’s number of just 136.


Residential sales and listing activity from the Saskatoon MLS for the week of January 15-21, 2017


Softer sales and more new listings meant higher inventory numbers. By this morning, the total number of residential properties for sale on the multiple listing service® reached 1618, up 48 from a week earlier, leaving us up over last year by seven homes. All of the gains can be attributed to the condominium category which saw its numbers grow from 575 a year ago to 626 today. The number of single-family homes for sale has slipped lower to 850 from 881 at this time last year.


Active residential MLS listings for the week of January 15-21, 2017


With some continued softness at the upper end of the Saskatoon real estate market (only one sale above the $500,000 mark this week), the average price of a local home slipped to $335,654 even as the weekly median price grew to $322,000. The longer term measures both moved lower as the six-week average price dropped by nearly three thousand dollars to $335,671 which is down about 10K from the close of the same week last year. The four-week median took a solid dive to just $316,000 to find its lowest point in well over a year. It finished the week down from a  year ago by fifteen thousand and five hundred dollars.


Average and median prices for Saskatoon homes sold MLS for the week of January 15-21, 2017


Historical six-week average price for homes sold MLS through the week of January 15-21, 2017


Historical four-week median price for homes sold MLS through the week of January 15-21, 2017


Competitive bidding picked up a bit as three Saskatoon home sellers found a buyer willing to pay more than their asking price to deliver an average overbid of $2,733. On the other side of the negotiating table, 31 buyers ground themselves a discount that averaged $9,447. That’s lower than last week by about six thousand dollars. The other five deals closed at the full asking price.


Saskatoon residential sales and listing Activity for the week of January 15-21, 2017


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.


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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