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Saskatoon real estate week in review: May 22-28, 2016


Saskatoon real estate activity took an upward bounce this week as the total number of Saskatoon homes reported as being firmly sold rose to 90, up from 82 the week before, but still falling well short of sales for the same week last year when 105 homes traded hands. This is the fourth consecutive week during which sales fails fell short of last year’s numbers, something that has occurred two out of every three weeks this year.


The number of new listings added to the MLS® system fell sharply to produce the smallest weekly numbers we’ve seen since the end of March. Saskatoon real estate agents brought just 190 homes to the market, down from 218 last week and sharply lower that the 233 homes that had hit the system during the same week last year.


Active listing inventory grew marginally from 2115 at last week’s close to 2134 today. That was enough for a year-over-year gain of 111 homes, for our largest annual increase to the numbers since late March. Today’s totals include 1161 single-family homes, up just slightly from 1153, the number that were available last year at this time. Condo inventory levels continued to grow and reached 793, up from 682 a year ago.


Prices grew by all four measures we track. That was more a reflection of low numbers last week that it was about impressive gains this week. Both the weekly median price and the weekly average price were pushed back to more typical numbers as fewer entry level sales were reported this week. Those measures came in at $352,750 and $361,794 respectively. The six-week average price inched up less than a thousand dollars from last week to reach $349,169 for an annual loss of nine thousand dollars. The four-week median price grew to $336,200 for a weekly increase of nine thousand dollars and an annual decline of 22K.


Buyers did fairly well at the negotiating table as the vast majority were able to grind out a below list deal with an average discount of $10,889. Meanwhile, just two sellers found a buyer willing to pay more than their asking price but the bonuses were strong averaging $7600. Six deals closed at full price.


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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