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Saskatoon real estate week in review: January 29 - February 4, 2017


After a few fairly strong weeks to start the year, Saskatoon home sales fell a bit flat this past week as local real estate agents reported just 44 firm residential deals to the MLS® system. That number fall shorts of sales recorded the previous week by 12, and behind sales during the same week a year ago by the same amount.


The number of new Saskatoon real estate listings that were added to the multiple listing service® increased by 12 from the previous week to finish lower than they were over the same period last year by 22 homes.



Residential sales and listing activity from the Saskatoon MLS for the week of January 29 - February 4, 2017



The number of homes that are currently offered for sale on the Saskatoon multiple listing service® grew by just three on a weekly basis, but enough to keep levels higher than they were a year ago for the third consecutive week. At the close of business for this period, home buyers had a selection of 1630 active real estate listings to choose from, up modestly from the same time last year when 1617 listings were displaying an active status. Today, we have 849 single-family homes for sale, down from 883 a year ago. The condominium category is showing some strong year-over-year gains as those numbers grow to 635 units, up from 576 last year.



Active Saskatoon residential MLS listings for the week of January 29 - February 4, 2017



Even though upper-end home buyers were not particularly active this week, the median sale price of the 44 Saskatoon homes sold was $324,000 which is up about 10K from last week. The average price for the week slipped a couple of thousand dollars to $341,039. Meanwhile, the six-week average price took some gains for the second week in a row as it rose a little more than two thousand dollars from the previous week to $342,933 for a year-over-year drop of about seven thousand dollars. The four-week median price continued to swing wildly as it fell more than seventeen thousand dollars from last week to settle at $320,000 and record an annual loss of nearly 23K.



Average and median prices for Saskatoon homes sold MLS for the week of January 29 - February 4, 2017


Historical six-week average price for homes sold MLS through the week of January 29 - February 4, 2017


Historical four-week median price for Saskatoon homes sold MLS through the week of January 29 - February 4, 2017




Six of the week’s 44 home sales showed a selling price that matched the asking price on the MLS® listing, while two deals went for more and netted those sellers an average bonus of $3,600. The remaining 36 transactions closed below the asking price showing an average discount of $12,042. The largest gap between the list price and the sale price for the week was on a Sutherland area home that went $30,000 (roughly ten percent) below the asking price after 105 days on the market.



Saskatoon residential sales and listing Activity for the week of January 29 - February 4, 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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