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Saskatoon real estate week in review: June 17-23, 2012

The final week of spring came and went keeping Saskatoon real estate agents busy closing a total of 106 house and condo deals. That’s up nearly 20 units from the previous week and 32 more transactions than we saw during the same week last year.


New listings remained precisely stable on a week-over-week basis with 143 properties being offered for sale, up 32 home listings from the same period a year ago.


Click the image for a larger version of the graph.



The inventory of active MLS® listings took a very small downturn edging lower from the 1237 unit close the week before to 1230, roughly 200 units lower than it was at the same point in 2011. Today, there are 745 single-family homes and 411 condominiums showing an active status on the Saskatoon multiple listing service. Both categories are down from last year when buyers had 824 houses and 523 condominiums to choose from. I expect that inventory has probably peaked for the year, more or less, though it’s possible that we’ll see a bit of a rush of latecomer sellers looking to take advantage of what could be a brisk two weeks leading up to new mortgage rule changes which will further limit home buyer’s ability to finance by July 9.


Click the image for a larger version of the graph.



The average sale price of a Saskatoon home pushed higher again coming close to recovering all that it had lost over the past couple of weeks, thanks to the strong performance of sales above $400K. It increased by nearly ten thousand dollars from the previous week to $348,313. The median price for this week’s sales remained almost unchanged at $318,000. Meanwhile, the six-week average price of a Saskatoon home inched higher gaining about $2500 this week to settle at $340,608 for an annual increase of a little more than twenty-six thousand dollars. The four-week median price slipped lower by two thousand dollars to $318,000 for year-over-year growth of eighteen thousand dollars.


Click the image for a larger version of the graph.



There was a bit of overbid activity this week with six lucky sellers closing a deal for more than their asking price, but all of the overbids were fairly constrained, the largest coming in at $700 and the lowest coming in at $1 for an average of just $184. Another 17 buyers stepped up and offered the full asking price to close their deal, while 83 of this week’s 106 sales closed at a price that was less than the list price by an average of $10,510.


Other notable activity on the Saskatoon MLS® this week included 52 canceled and withdrawn listings, 14 expired listings and 62 price changes.


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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