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Saskatoon real estate week in review: January 8-14, 2017


Saskatoon real estate activity showed some signs of life this past week as the number of local homes that traded began its slow seasonal climb. There were 42 firm residential sales reported to the Saskatoon MLS®, an increase of 12 from the previous week, and up by one when looking back at the same week last year. Sales activity remained in single-digit territory in all but one of the five major housing areas, with area three seeing a single sale for the second week in a row. After opening 2017 with some really big numbers last week, new listings fell lower to 168 homes, down 52 on a weekly basis. That was, however, enough for an annual increase of nine listings.


Saskatoon residential sales and listing Activity for the week of January 8-14, 2017


The inventory of active Saskatoon real estate listings also pushed higher, as it will now during most weeks over the first half of the year as it moves towards its annual peak. Today’s totals show 1570 residential properties with an “active” status, down from a year earlier by just eight homes. We currently have 827 properties in the single-family category, down from 875 a year ago, and 605 condominium listings, up from 539 at this time last year.


Active residential MLS listings for the week of January 8-14, 2017


The median sale price for the week gained some ground coming in 25K higher than the previous week at $314,500. The average sale price for the week also moved up and finished the week at $337,970. Meanwhile, the longer-term measures that we track both edged lower from last week. The six-week average price slipped just a few hundred dollars to $338,546 to find itself down on an annual basis by close to sixteen thousand dollars.  The four-week median price fell nearly three thousand dollars for the week but finished ahead of where it was a year ago by forty-five hundred dollars.


Average and median prices for Saskatoon homes sold MLS for the week of January 8-14, 2017


Historical six-week average price for homes sold MLS through the week of January 8-14, 2017


Historical four-week median price for homes sold MLS through the week of January 8-14, 2017



Following several weeks with no overbid sales, that seller losing streak was broken this week as a single area four home fetched $1,100 more than the asking price in some kind of a bidding war. Another two sellers snagged a list price sale, both of those properties were new homes. The remaining 39 deals closed below the asking price netting those buyers some hefty discounts averaging $15,760.


Summary of Saskatoon real estate activity for homes sold and listed MLS for the week of January 8-14, 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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