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Saskatoon real estate week in review: May 21-27, 2017

Coming off of three very strong weeks, Saskatoon homes sales slipped lower on both a weekly and an annual basis. Local real estate agents reported 86 firm residential transactions to the Saskatoon multiple listing service®, well down from the 99 deals that were recorded last week. We finish the period with four fewer sales than we saw during the week last year.


Meanwhile, the number of new listings added to the MLS® also slipped lower. A total of 203 residential properties were entered into the system, down from 221 last week, but up from 190 of the same period of 2016.



Saskatoon residential MLS sales and and new listings for the week of May 21-27, 2019



MLS® inventory continued to move higher, this week reaching 2174 listings, which is just one listing shy of last year’s peak number. In 2016, total active listings reached their high point for the year around the end of June. That’s about the time when MLS® inventory reaches its highest level most years. If this year follows typical patterns we should top out around 2200-2250 active listings before the inventory starts a slow but steady decline through the balance of the year. Today we have 1195 single-family homes for sale in Saskatoon, up 34 units from this time last year. Condo inventory is at 823 for an annual increase of 30.



Saskatoon active residential listings on MLS at May 27, 2019



A strong showing of entry level buyers (13 sales under $200,000) ushered the weekly median price lower to $330,250 while an absence of sales above the $700,000 mark (and only five deals above 500K) brought the average sale price to one of its lowest levels this year. It closed the week at $326,848. After growing by more than $20,000 over five weeks the six-week average price finally took a downward turn as it slipped from $364,096 last week to $357,806, however, it still managed to record a seventeen thousand dollar increase when compared to closing numbers from the same week last year. The four-week median price also went down falling from $348,000 last week to $345,000. That number is also up from a year ago, but by less than nine thousand dollars.


Average and median prices for Saskatoon homes sold through the MLS from May 21-27, 2017


Historical 6-week average price for Saskatoon homes sold through the MLS from May 21-27, 2017


Historical 4-week median price for Saskatoon homes sold through the MLS from May 21-27, 2017


Three lucky sellers closed a sale for more than their asking price picking up an average bonus of $2,900. Six more wrapped up a contract at their asking price. The remaining 77 transactions recorded a sale price that was below list by an average of $10,568.



Saskatoon real estate statistics for MLS home sales from May 21-27, 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.
 

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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