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Saskatoon real estate week in review: June 23-29, 2013

On the heels of what turned out to be the busiest week for the sale of Saskatoon houses and condos in more than five years, it happened again. That’s right, this past week stole that honour from the previous weekas sales moved higher by just one unit reaching 123 to record an annual increase of 19 homes.


Saskatoon real estate agents also kept busy writing new listings this week. Over the course of the week 156 houses and condos were added to the MLS® inventory, down seven from the previous week to fall below the 158 homes listed during the same week a year ago. This is the first week in ten where new listings actually came in lower than what was recorded the previous year.


The little inventory bubble that began to grow a few weeks back continued to deflate as the total number of residential listings on the Saskatoon multiple listing service® slid lower by 16 properties this week and settled at 1289. That’s still 70 units higher than levels recorded one year ago but total numbers do seem to be headed lower. Single-family inventory is up 20 units on a year-over-year basis to 770 homes. Meanwhile, condo inventory has grown by 25 homes compared to last year reaching 429.


The average sale price of a Saskatoon home moved higher this week to $363,200 while the median price slipped lower to $333,000. The six-week average price inched up a little under five hundred dollars to $351,834 and posted an annual gain of nearly twelve thousand dollars. Meanwhile, the four-week median price held steady on a weekly basis at $320,000 to maintain a year-over-year increase of less then five thousand dollars.


The number of sales reported to the Saskatoon multiple listing service® with a price that exceeded the seller’s asking price slipped to seven this week. The buyers involved in those transactions paid an extra $4,668 on average to close their deal. Another 100 buyers managed to negotiate a discount averaging $10,412. Meanwhile, 16 transactions closed at the full asking price.


Other MLS® activity this week included 50 cancelled and withdrawn listings, 16 expired listings and 52 price adjustments.


Highlights of a very quiet week for real estate news


Recreational properties in demand - Star Phoenix


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Norm Fisher
Royal LePage Saskatoon Real Estate

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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