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Saskatoon real estate week in review: March 31 - April 6, 2013

Saskatoon real estate sales reached their highest point for any week this year with 87 houses and condominiums trading hands through the multiple listing service®. That final tally is up 16 units from the previous week to finish well above the 63 Saskatoon homes that sold during the same week last year.


A spike in new listings happened at the same time, also reaching record numbers for any week this year. Saskatoon real estate agents brought 153 new listings to the MLS® system, up 55 from last week, but falling short of numbers from the same period last year when 192 new listings came onto the system.


Inventory numbers of Saskatoon MLS® listings moved higher this week gaining 35 units over the course of the week to close at 1092, its highest level this year. That number is ahead of levels seen at the same time last year by 32 homes. A search of today’s inventory shows 664 single-family homes and 342 condominiums displaying an active status. Last year at this time, those categories stood at 624 and 354, respectively.


A pretty good handful of upper end real estate sales saw the average sale price of a Saskatoon home surge to its highest point for any week this year at $363,586. Combining the upper end sales activity with fewer entry level sales pushed the median price higher as well to $347,400.


After trending lower for most of the first quarter, both of our longer term measures took a solid leap to higher ground. The six-week average climbed nearly ten thousand dollars from last week’s close to reach $341,059 for an annual gain of a bit more than thirteen thousand dollars. The four-week median pushed higher by eight thousand dollars this week and settled at $326,500 for a year-over-year increase roughly the same as the six-week average.


Overbid Saskatoon real estate sales cooled to just three. Those fortunate sellers picked up an additional $5,434 on average. On the other hand, sales at list price posted some of the strongest numbers we’ve seen in awhile at 23. The remaining 61 firm Saskatoon real estate sales closed below the asking price by an average of $8,929.


Other notable MLS® activity this week included 32 cancelled and withdrawn listings, 16 expired listings and 23 price adjustments.


Highlights from the news this past week

Why Canadian banks shouldn’t fear a housing slowdown - Financial Post

Home sales activity on an upward swing - Star Phoenix

Real estate’s late spring: Sales rebound fails to happen - Globe and Mail

Canadian home prices up in most markets in early 2013: Royal LePage - Financial Post


A map displaying the boundaries of Saskatoon real estate areas is here. An overview of data collection and calculation practices for our statistical reports is here.


Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here now.


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.

By 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.
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