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Saskatoon real estate week in review: July 8-14, 2012

Following a few brisk weeks with house sales reaching above the 100 unit mark the Saskatoon real estate took a bit of a dip falling by eight sales from the previous week to 94 and finishing lower than the same week last year by nine.


New listings of Saskatoon houses and condominiums came on fairly strong at 167, up nine units from last week to finish higher than the same week a year ago by nearly 60 homes. Many of those “new listings” were actually relists that were disguised as new listings with “days on the market” reset to zero.


Click the image for a larger version of the graph.



In spite of the large gap between sales and new listings, the total active inventory of Saskatoon MLS listings stayed fairly stable growing by just ten homes to 1214, down nearly 200 homes from levels seen a year ago. Today, there are 746 single-family homes and 397 condominiums showing an active status on the Saskatoon multiple listing service. At this time last year, there were 801 single-family homes and 518 condos available to home buyers.


Click the image for a larger version of the graph.



The average sale price of a Saskatoon home slipped lower for the third consecutive week and settled at $327,142 while the weekly median price pretty much held its ground slipping just $500 from last week to $311,500. In longer-term measures, this week’s sales see the six-week average price also holding firm on a weekly basis at $332,952 for a year-over-year gain of about $23K. The four-week median price grew by four thousand dollars on last week’s close to finishing this week at $316,000 for annual growth of $17,000.


Click the image for a larger version of the graph.



Overbidding made a bit of a comeback compared to the previous week when they were nearly non-existent. This week, six buyers paid the seller more than their asking price but the average overbid was pretty low at just $62 (take the family for lunch). Another nine sellers found a buyer willing to step up and pay the full asking price while 79 of this week’s 94 sales were completed at a price that was below the seller’s number.


In other MLS activity this week, there were 56 cancelled and withdrawn listings, 16 listings that expired without a sale and 47 sellers who adjusted their asking price.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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