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Saskatoon real estate week in review: July 15-21 2012

Winding down its second full week operating under new mortgage guidelinesintroduced on July 9, the Saskatoon real estate market saw another steady and solid week of trades. Agents reported 95 firm house and condominium sales to the Saskatoon multiple listing service® this week, up just one from last week’s numbers and ahead of the same week last year by just two sales.


New listings of Saskatoon houses and condominiums fell to their lowest level in four weeks time with just 146 new listings being brought to the market. That represents a decline of 21 homes compared to last week’s listing volume, but it’s sharply higher than it was a year ago when just 106 new listings were added to the Saskatoon MLS® system.''


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The total inventory of residential listings on the multiple listing service® took an upward turn that is somewhat unusual at this time of year. The database grew in size by 19 properties over the course of the week to reach a total of 1233 homes, down from 1422 at the same time a year ago. Still, today’s totals are at their lowest point for this week in five years. Today, there are 752 single-family homes and 408 condos showing an active status. Last year at this time, those two categories sat at 814 and 512 respectively.


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Stronger sales activity at the upper end of the market including three home sales that pushed the $800,000 mark moved the average sale price of a Saskatoon home higher to $330,284. The weekly median went in the same direction gaining a little more than 15K compared to last week as it reached $327,000. The six-week average price inched up a little more than two thousand dollars on a weekly basis finishing at $335,264 to claim an annual gain of just over thirty thousand dollars. The four-week median price saw weekly gains that matched that of the six-week average. It finished the week at $318,250 for a year-over-year gain of just about twenty-two thousand dollars.


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There were some stories of multiple offers being received on a few properties. For the most part, buyers stayed away from offering more than the seller’s list price. Just one sale closed above that mark. That overbid was $2,600. Another 15 deals closed with a sale price that matched the asking price while 79 of this week’s 95 sales were completed for less than asking price with an average discount of $9,233.


In other MLS® activity this week, there were 28 canceled and withdrawn listings, 10 listings that came to the end of their term and expired without a sale and 52 sellers who adjusted their asking price.


Click the image for a larger version of the chart.



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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