CONTACT

Saskatoon real estate week in review: June 21-25 2010

Saskatoon real estate sales for the week matched the pace of the previous week with eighty-three homes trading. On a year-over-year basis sales declined roughly twenty-five percent from the 110 offers that went unconditional during the same week last year.


New MLS® listingsgrew to 123, up eight from last week to finish higher than the same period in 2009 when 110 Saskatoon home sellers listed their home on the Multiple Listing Service®.


Click the image for a larger version of the graph.


The inventory of residential listings crept up again gaining eleven units over the course of the week to finish at 1427, just eight units fewer than were available at this time in 2009.  Most of the gains were recorded in the single-family detached house category, which moved higher to 853 homes while active condo listings fell below the five hundred mark to finish at 495.


I found it interesting that for three consecutive years inventory numbers were essentially the same during this particular week. Of course, in 2009 they were already headed for lower ground. In 2010, they continued to swell taking another three months to reach peak numbers for the year.


Click the image for a larger version of the graph.


Cancelled and withdrawn listings came in at forty-two with twenty-five of those being reprocessed as a new listing the same day they came off. Price adjustments crept higher again reaching eighty-six properties.


The average selling price of a Saskatoon home bounced higher to once again break the $300,000 mark. The six-week average moved up nearly two thousand dollars to $298,951 and gained more than twenty thousand dollars over the same week last year. The four-week median slid lower for the second week in a row losing fifteen hundred dollars to close at $285,000, up just eight thousand dollars from the same time in 2009.


Click the image for a larger version of the graph.


Overbid sales continued to be sparse with just three of this week’s sales recording an above list sale price. The average overbid is heavily skewed by one sale that went over list by forty-four thousand dollars. It was a new house so additional improvements are likely included in the final sale price. Seventy-six of the sales for the week were reported as selling below the asking price by $8,981 on average for a discount of 2.7 percent.


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.


Our Saskatoon home search tool offers MLS® listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here.


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®.
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatoon Region Association of REALTORS® displayed on this site is refreshed every 2 hours.
Google Analytics Alternative