CONTACT

Saskatoon real estate week in review: January 28 - February 3, 2018

Coming off of the strongest January since 2014, Saskatoon real estate sales numbers continued to show a solid weekly performance. Over the past week, local REALTORS® reported 56 firm residential sales to the multiple listing service®, enough to match last week’s numbers, and beating sales for the same period last year by 12.


Meanwhile, the number of new listings added to the MLS® was moderate, compared to recent years. This week, 134 Saskatoon homes were offered for sale on the system, up just two from the previous week, 21 fewer than we saw during the same week last year.


The inventory of active MLS® listings in the residential category had been growing very slowly over the first month of the year. This week, we see the first drop of the calendar year as total listings fell to 1518, down from 1536 at the previous week’s close. That’s 112 fewer homes than we had for sale at this time in 2017. A closer look at the two major categories of Saskatoon housing shows 794 single-family homes for sale, a decline of 18 from a week earlier, and down 55 from a year ago. Condominium inventory is at 635 today, precisely where it stood at the close of the same period last year.


A slight increase in upper-end real estate sales activity pushed the median sale price for the week slightly higher to $346,000 even as the average sale price of a Saskatoon home (for the week) edged lower to $358,265. The longer-term measures showed some interesting changes. The four-week median price grew by close to ten thousand dollars as compared to last week’s close, hitting $339,450 and reaching its highest point in 19 weeks. That number is up nearly twenty thousand dollars from a year earlier. Meanwhile, the six-week average price increased roughly 5K from a week earlier to hit $347,373. That is up about four thousand dollars from a year ago, and at a 21 week high.

For the first time in several weeks, we actually saw some overbid activity as three sellers accepted offers form more than their asking price. Those deals paid an average bonus of $767 with one seller running away with most of that cash ($2,100). On the flip side of the negotiating table, 46 of this week’s sales went for less than the asking price generating an average discount of $12,502.


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.



I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is 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.
 

Note: We are in the process of bringing this blog home to the TeamFisher.com domain and we have a lot of stuff to move! Another 700 posts can be found at normfisher.com where they'll remain until we can get them moved here.

The Saskatoon Region Association of REALTORS® (SRAR) IDX Reciprocity listings are displayed in accordance with SRAR's MLS® Data Access Agreement and are copyright of the Saskatoon Region Association of REALTORS®.
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 Saskatoon Region Association of REALTORS® displayed on this site is refreshed every 2 hours.
Google Analytics Alternative