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Saskatoon real estate week in review: March 19-25, 2017

Saskatoon real estate agents posted a total of 72 residential sales to the local MLS® system this week, up three from last week to beat numbers generated during the same week last year by five. New listing activity remained strong as well. While those numbers slid lower by 15 homes when compared to activity from the previous week, they were well ahead of the 141 properties listed during the same period of 2016.



Saskatoon residential MLS sales and listings for the week of March 19-25, 2017



Inventory levels continued to move higher as we’d expect at this time of year. This morning there are 1864 Saskatoon homes for sale on the multiple listing service®, which is up 27 units from a week earlier, and down just 11 from levels recorded at this time last year. That is the smallest year-over-year decline since late February and it leaves us in a spot where we could easily see annual gains again with one big week. For the first time in months, the number of single-family homes for sale in Saskatoon sits higher than a year ago. Today we have 988 listings in that category, up ten from last year. Condo inventory now sits at 724, down four from this time in 2016.



Saskatoon active residential listings on the MLS at March 25, 2017



Entry-level sales carried the week. In fact, seven residential sales below the $100,000 mark set the stage for one of our lowest weekly median prices this year at just $308,000. With no sales recorded above $635,000 the weekly average also fell lower to $314,465. Meanwhile, the six-week average price of a Saskatoon home slid to $338,366 to finish the week just three thousand dollars lower than it was at the close of the same week last year. The four-week median price managed to make some gains as it grew by twenty-five hundred dollars from the previous week to reach $329,500. This measure lost $2500 on an annual basis.



Average and median prices for Saskatoon homes sold through the MLS from March 19-25, 2017


Historical 6-week average price for Saskatoon homes sold through the MLS from March 19-25, 2017


Historical 4-week median price for Saskatoon homes sold through the MLS from March 19-25, 2017



Two lucky sellers found themselves managing a bidding war that drove their price higher, one getting just a hundred dollars over list, and the other bagging a bonus of $11,000. On the flip side of the negotiating table, 63 buyers held firm for a discount that averaged $11,707. The remaining seven sales recorded a price that was equal to the seller’s list price.



Saskatoon real estate statistics for MLS home sales from March 19-25, 2017



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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