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Saskatoon real estate week in review: June 21-27, 2015

It was another strong week for Saskatoon real estate sales as local agents reported 111 firm deals to the multiple listing service®, down just two from last week’s totals and falling short of sales recorded during the same week a year ago by 14, a decrease that has become more or less typical of the 2015 year. At the same time, the number of new listings added to the MLS® slipped to a greater degree, at least on a week-over-week basis. Saskatoon REALTORS® brought 199 new listings to the system, down 31 from levels seen a week ago, but up by 45 units on an annual basis.


The number of active residential MLS® listings available to buyers stalled this week. By the close of business Friday 2093 active residential listings could be found on the system, precisely the number that we ended with the previous week to bring us the first week of the year during which listings did not increase. While no gains could be found when comparing numbers against last Friday’s close, annual growth to the inventory sits at 541 homes today, the highest number of homes ever available for sale on the Saskatoon multiple listing service. At present, 94 listings are scheduled to expire between now and the first of July so it’s quite possible that we may see our first drop in inventory levels next week. Stay tuned. In the mean time, buyers have 1227 single-family homes to choose from, up from 945 at this time last year. Additionally, there at 665 condominiums bearing a for sale sign, up from 484 a year ago.


The mix of sales activity between upper end and entry level remained fairly stable so the median price of a Saskatoon home edged just slightly lower to $360,000. The weekly average fell a bit more to $364,660. Meanwhile, both the six-week average price and the four-week median price reached new highs for the year at $366,192 and $360,000 respectively. The six-week average price was up nearly two thousand dollars from a week ago, rising about three thousand dollars on an annual basis. The four-week median grew by $8,500 from last week’s number to find itself up by about the same amount on a year-over-year basis.


Overbid sales slipped lower to nine this week with average overbids of just $2,811 being recorded. Another 93 buyers broke away from the negotiating table with an average discount of $10,910. The remaining nine sales closed at the seller’s asking price.


Other notable real estate activity this past week included 90 cancelled and withdrawn listings (84 and six respectively), 19 expired listings and 84 price changes.


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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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