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Saskatoon real estate week in review: March 8-14, 2015

Saskatoon real estate sales remained steady this week with local agents reporting a total of 70 residential sales for a weekly gain of two, topping sales for the same week last year by four, and making this the first week this year during which sales actually grew on an annual basis.


The number of new residential listings that entered the MLS® system grew again, largely driven by the re-listing of a large number of expired listings that came off of the system last week, and a bunch of canceled listings that left and then returned with a new price. Across the week, 195 properties were were added to the multiple listing service®, up eight from the previous week, handily topping totals from the same week last yearwhen 167 new listings were added.


The database of active residential real estate listings saw its largest increase in eight weeks time as it spiked higher from 1575 last week to 1652 today. That total puts the current inventory ahead of levels recorded at this time last year by 370 homes, leaving it at its highest point since August of 2008. Single-family homes inventory rose to 887, up from 734 a year ago. Condos are now sitting at 571, ahead of last year’s numbers by 153 units.


Sales above the five hundred thousand dollar mark were weak once again. The weekly median price slipped $1,000 from last week to $330,000 as a result. The average price fell lower for the second week in row to $327,379. The six-week average price continued to trend lower as it slid about twelve hundred bucks from last week to $352,168 and finished the week just a few hundred dollars softer than it was a year ago. The four-week median price stayed stable on a weekly basis to close at $330,000 for an annual loss of a bit more than $8,000.


Even with sales activity that was pretty tepid, five buyers offered to pay above list price for their new home with an average overbid of $3,280. Meanwhile, the 59 deals that closed below the seller’s asking price recorded an average discount of $10,841. Another six buyers paid full price to close their purchase.


Other notable real estate activity this past week included 47 cancelled and withdrawn listings (42 and five respectively), 11 expired listings and 62 price changes.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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