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Saskatoon real estate week in review: June 11-17, 2017


Coming off of the softest sales week in the past two months the number of Saskatoon homes reported sold to the multiple listing service® rebounded to 90, up 22 from the previous week, just two units below sales for the same period last year.


Meanwhile, the number of new residential listings that were added to the MLS® fell significantly. This past week, 203 homes hit the Saskatoon real estate market, down 57 from the preceding period. During the same week last year 208 homes were counted as new listings.


Week 24 of 2017 proved to be another record breaker when it comes to total active residential listings for sale through the MLS® system. That number climbed to 2251 as the week drew to a close, up 21 from the previous week’s close, to finish the period higher than it was a year earlier by 117 units. The number of single-family homes for sale within the Saskatoon city limits is now at 1243, up from 1127 a year earlier. Condo inventory is at 842, up from 810 last year at this time. If inventory trends continue to follow the pattern that we’ve seen over the past two years we will likely reach our peak over the next couple of weeks, and then see those numbers begin to decline.

With 35 of this week’s sales topping to $400,000 mark, the weekly median price surged higher by eighteen thousand dollars to $360,000. The weekly average moved up by nearly 25K to $367,747. This change boosted up the longer-term measures, both of which had been sliding steadily for the last few weeks. The six-week average grew by more than three thousand dollars to hit $353,950 for an annual loss of roughly five thousand dollars. The four-week median price gained two grand from a week earlier reaching $335,000 to record a year-over-year decline of seven thousand dollars.

The overbid activity saw a modest uptick as sales increased. Three sellers found a buyer willing to pay more than their asking price as they netted an average bonus of $2100. On the flip side of the negotiating table, 82 buyers managed to deal themselves a discount averaging $11,432.


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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