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Saskatoon real estate week in review: June 13-17, 2011

Saskatoon real estate sales for the week finished above the one hundred-unit mark for the second time this year as local agents brought 101 firm house and condo sales to the MLS® system. Total units beat last weeks sales by ten and topped sales for the same week last yearby eighteen.


New listings of houses and condos edged higher than the previous week by six homes, finishing at 136 units and handily beating last year’s volume when just 115 Saskatoon were offered up for sale on the multiple listing service®.


Click the image for a larger version of the graph.


The total number of residential listings offered for sale on the Saskatoon MLS® system pushed higher again gaining thirty units over the full week to finish at 1451, just slightly lower than inventory at this time last year when 1467 homes were for sale. Today, there are 841 single-family homes and 518 condominiums displaying an active status on the system. At this time last year, single-family home inventory was at 842 while condos sat at 500 units.


Click the image for a larger version of the graph.


This week, there were forty-four cancelled and withdrawn listings removed from the MLS®. Twenty-nine of those immediately returned to the system as a new listing. The number of price adjustments moved sharply higher again to ninety-five as Saskatoon home sellers attempted to reposition hoping to find themselves in the sales column next week.


The median selling price of a Saskatoon home slipped after showing gains for the past couple of weeks. It slid nearly thirteen thousand dollars to $295,000. The weekly average price also finished well below last week’s numbers as it fell more than twenty-four thousand dollars to $304,202. The six-week average sale price slipped about twenty-eight hundred dollars from last week to close at $314,969 reaching its lowest point since late April. It still sits roughly eighteen thousand dollars higher than it was at the same time last year. The four-week median followed along slipping almost four thousand dollars to $295,000. That’s just eighty-five hundred dollars higher than it was for the same week a year ago.


Click the image for a larger version of the graph.


Overbid activity slipped again as just three of 101 sellers found a buyer willing to pay more than their asking price. The average overbid was just over $3,000. Another eight buyers agreed to a full list price purchase. The remaining ninety insisted on a bit of a deal and managed to grind the seller for a discount of $9,783 on average.


Click the image for a larger version of the chart.


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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.

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