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Saskatoon real estate week in review: July 14-20, 2013

Local home sales pushed higher for the second consecutive week as Saskatoon real estate agents reported 100 house and condo deals to the multiple listing service®. That number represents an increase of eight sales compared to the previous week and a year-over-year gain of five, for the first annual sales increase in three weeks time.


On the heels of a couple of weeks that saw new listings grow at a time when they’re typically decreasing the story changed and they began falling lower again. This week, local REALTORS brought 156 listings to the Saskatoon MLS®, down nine homes compared to the previous week but ten more than were listed during the same period of time last year.


Active listings in the residential category of the Saskatoon multiple listing service® grew again climbing 12 units over the course of the week to 1317, well ahead of levels recorded a year ago when Saskatoon home buyers had 1233 homes to choose from. A closer look at the major housing categories shows 776 single-family homes and 454 condominiums displaying an active status. At the same time last year, those key categories sat at 752 and 408 respectively.


Once again, high end sales skewed the average sale price of a Saskatoon home higher to $365,592. Like last week, two sales contributed more than two million dollars in sales volume to the totals. Another six residential sales with prices greater than 600K just increased that even more. This higher number of upper end sales also pushed the median price for the week higher to $333,000. Meanwhile, the six-week average sale price of a Saskatoon home edged higher by six thousand dollars to reach $352,151 for an annual increase of roughly seventeen thousand dollars. The four-week median price remained stable on a weekly basis at about $330,000 to claim an annual increase of about twelve thousand dollars.


Overbid sales continued to trail lower with just two sales being reported as having sold above the seller’s asking price, one by $12,000 and the other by just $100. Another 16 sales were completed at full asking price. The remaining 82 sales closed at a price that was less than the seller had asked by an average discount of $10,984 for the first five figure average in several weeks.


Other MLS® activity this week included 60 cancelled and withdrawn listings, just 1 expired listing and 53 price adjustments.


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.


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Norm Fisher
Royal LePage Saskatoon Real Estate

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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