CONTACT

Saskatoon real estate week in review: March 5 - 11, 2017

On the heels of the most productive sales week this year, Saskatoon real estate sales softened. Local agents reported just 53 firm residential deals to the multiple listing service® which is down from 72 last week. During the same week a year ago 75 Saskatoon homes traded hands. 


Meanwhile, the number of new listings added to the MLS® also fell lower to 166. That’s well below the 234 homes that came onto the market last week, and just marginally lower than the 169 homes listed over the same period last year.



Saskatoon residential MLS ® sales and new listings for the week of March 5-11, 2017



The number of Saskatoon homes listed for sale on the multiple listing service® gained some ground as it climbed by 45 units this week to reach 1783, down from 1832 a year earlier. Today’s totals show 937 single-family homes for sale, down just slightly from 955 at the close of the same week in 2016. Condo inventory sits at 694 today for an increase of just four from a week earlier, and down by 14 from a year ago.



Active residential listings on the Saskatoon MLS® at March 11, 2017



You may recall that a solid chunk of last week’s market was at the upper-end of the value range. That pushed the weekly average and median prices much higher. With more than ten percent of this week’s sales exceeding $500,000 there was no lack of upper-end activity but with 22 sales below the $300,000 mark, both the weekly average and the weekly median fell sharply lower to $339,949 and $315,000 respectively. The longer term measures held their ground with the six-week average slipping just a thousand dollars to $342,847 to claim an annual increase of roughly seven thousand dollars. The four-week median price fell twice as much from the previous week to settle at $324,000 which is down just $1000 from a year earlier.



Average and median prices for Saskatoon homes sold through the MLS® from March 5-11, 2017


Historical six-week average price of Saskatoon homes sold through the MLS® from March 5-11, 2017


Historical four-week median price of Saskatoon homes sold through the MLS for the week of March 5-11, 2017



Overbid action was shut out again. I think that’s five or six weeks now since anyone paid more than asking price but seven sellers did get full price offers, all of those new homes. The remaining 47 deals closed at a price that was less than the seller had asked delivering an average discount of $13,743.



Saskatoon real estate statistics for residential MLS® sales from March 5-11, 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.
 

Posts By Date
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