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Saskatoon real estate week in review: July 29-August 4, 2012


Sales of houses and condos inched ahead of the previous week as Saskatoon real estate agents reported 88 firm sales to the multiple listing service® for a weekly gain of seven to finish higher than the same week last year by 27 home sales.


New listings of Saskatoon homes dropped, but only slightly, losing three from the previous week’s numbers as a total of 143 houses and condos were added to the MLS® system this week, still well ahead of the 111 properties listed during the same period of 2011.


Click the image for a larger version of the graph.



After showing gains over three consecutive weeks, an unusual occurrence at this time of the year, the total inventory of residential listings available on the Saskatoon multiple listing service® dipped lower, thanks in part to normal month-end expired listings. Total inventory slipped by 15 units compared to the close of the previous week to settle at 1234. Last year at this time, 1395 Saskatoon homes were for sale on the MLS®. As of this morning, there are 759 single-family homes and 406 condominiums bearing the active status. Compare that to 821 and 495 one year ago.


Click the image for a larger version of the graph.



With a lot more activity at the upper end of the market including ten sales that came in above the half-million-dollar mark, the average sale price of a Saskatoon home jumped more than twenty thousand dollars from last week to $351,557. The weekly median price followed along growing by 18K from a week ago to $338,200. Meanwhile, the six-week average price of a Saskatoon home stayed stable on a weekly basis at $334,916 to finish well ahead of last year’s number of $307,380. The four-week median-priced pushed higher gaining a little more than five thousand dollars on the week to close at $322,500 and claimed an annual gain of just more than 19K.


ick the image for a larger version of the graph.



At the negotiation table, just five buyers stepped up to pay the seller’s full asking price. That’s approaching its lowest point since late winter. Another four buyers paid a little more than asking price to firm up a home purchase, on average offering an additional $1,850. In other wheeling and dealing, 79 of this week’s 88 closed transactions were finished below the seller’s asking price by an average discount of $8,107.


Other notable MLS® activity this week includes 36 canceled and withdrawn listings and 47 listings that left the system after failing to sell for the duration of the listing period. Another 38 Saskatoon home sellers adjusted their asking price in hopes of attracting a buyer before the fall.


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.
 

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®.
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