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Saskatoon real estate week in review: May 13-19, 2012

Residential unit sales continued to move along at a brisk pace last week as Saskatoon real estate agents reported a total of 105 firm deals to the local MLS®. That number brings an increase of nine sales compared against the previous week and growth of seven when compared against sales activity from the same week a year ago.


New listings added to the inventory of the Saskatoon multiple listing service® slid from the lofty levels recorded the previous week, falling by 30 properties to 154 to finish just slightly lower than the same week from the previous year when 157 Saskatoon homes were introduced to the system.


Click the image for a larger version of the graph.



Following a week that saw a needed bump to the total inventory of active MLS® listings in the residential category, inventory growth sputtered but inched higher growing by just 13 units over the week to reach 1203 properties, down from 1380 at the close of the same week in 2011. Today’s totals show 726 single-family homes and 403 condominiums available to Saskatoon real estate buyers. At this time last year, those numbers stood at 804 and 502 respectively. This would be the first time that the inventory of available Saskatoon condos has been above the 400 mark this year but it’s still twenty percent lower than it was a year ago.


Click the image for a larger version of the graph.



The average selling price of a Saskatoon home moved higher once again reaching $349,414 this week. The median sale price for the week moved in the opposite direction slipping nearly eight thousand dollars to settle at $311,250. After five consecutive weeks of growth at record levels, the six-week average selling price of a Saskatoon home slipped lower falling a bit more than four thousand dollars from the previous week to $342,038 for an annual gain of about twenty-three thousand dollars. The four-week median price slipped a little more falling fifty-three hundred dollars from last week to $317,900 for annual growth of about eleven thousand dollars. Over the past few weeks, the annual gains to the four-week median have been moderating, coming in at about half the amount that we’d been seeing through most of the first few months of the year.


Click the image for a larger version of the graph.



The number of Saskatoon homes that traded for more than the asking price moved higher again reaching 11 this week. On average, the buyers involved in those deals paid the seller an extra $4,777 to walk away with the home they wanted. By contrast, 86 of the 105 closed transactions recorded on Saskatoon’s MLS system this week reported a price that was below the list price by an average of $10,823. Another eight home sellers made off with their full asking price.


Other notable Saskatoon real estate activity this week includes 39 canceled and withdrawn listings, just 9 properties that expired from the system without a sale and 45 price changes.


Click the image for a larger version of the chart.



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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