CONTACT

Saskatoon real estate week in review: January 18-22 2010

Home sales in Saskatoon continued at a sluggish pace picking up just five units over the previous week to finish with forty-five houses and condos firmly sold, a drop of thirty-five percent compared to the same week last yearwhen 69 homes found a sold sign. Unless the coming week produces sales that are double what we’ve been seeing over the past few weeks we appear to be headed for a rather weak January, one which seems oddly out of place given the robust sales of the past two quarters.  The five-year average for total residential sales in January is 208 properties. So far this month just 114 sales have been reported.


Once again, new listings recorded strong numbers at one hundred and twenty-three homes, a gain of thirty-six compared to the week before and thirty-seven more than were listed during the same week of 2008.



Total active residential listings moved higher again for the third consecutive week and reached 751 properties, up fifty-six units from the week before, but sharply lower than the 1,192 Saskatoon homes available at the same time last year. This morning, there are 416 single-family homes and 290 condominiums offered for sale on the Saskatoon MLS® system. Those numbers are down from 710 and 406 respectively compared to the same time in 2009.



Sixteen MLS® listings were cancelled or withdrawn from the multiple listing service this week. Nine of those homes quickly re-appeared disguised as a new listing. An additional twenty home sellers adjusted their asking price, all but a few moving lower.


After sliding lower for three consecutive weeks, the return of some upper end buyers moved the average selling price of a Saskatoon home higher to $269,289, nearly twenty thousand dollars higher than it was last week and twelve hundred dollars more than it was during this same week in 2009. The six-week average continued to slide lower and reached $276,660, lower than last week by roughly seven thousand dollars, but ahead of the number recorded during the same week last year by about twenty-six hundred dollars. The four-week median sale price edged forward reaching $257,000, up four-thousand dollars from last week and lower than it was during the same period in 2009 by five thousand dollars.


Click the image for a larger version of the graph.


The average underbid fell back to $7,341, down from $8,997 last week, for an average discount of 2.4 percent of the asking price, a full percentage point lower than it was last week when Saskatoon home buyers managed an average discount of 3.4 percent.



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.


Real estate geeks can follow our daily updates on Twitter @norm_fisher.


Our Saskatoon home search tool offers MLS listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here.


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.
 

Subscribe to our Blog

Posts By Date
The Saskatchewan REALTORS® Association (SRA) (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).
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.
MLS® System data of the Saskatchewan REALTORS® Association (SRA) displayed on this site is refreshed every 2 hours.
Google Analytics Alternative