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Saskatoon real estate week in review: May 28 - June 3, 2017

On the heels of one of spring’s softer sales weeks, the Saskatoon real estate market recorded its first triple-digit week as local agents reported 102 firm residential deals to the MLS®. That’s up 16 units from the previous week and it tops sales for the same period of 2016 by seven.


New MLS® listings also came on strong, as they typically do during the first week of any month, when those listings that expired at the end of the previous month come back for another go at the market. This past week, local REALTORS® added 247 Saskatoon homes to the database of the multiple listing service®, way up from the previous weeks total of 203, and topping volume for the same week last year by seven.

 

After reaching a new record high at the close of the previous week, the number of active residential listings for sale on the Saskatoon multiple listing service® retreated marginally. The closing total of 2159 amounts to 15 fewer homes than were available a week earlier. That is up by 62 from this time a year ago. The annual increase is proportionally split across the two major housing categories as single-family homes inventory grows to 1186 from 1129 a year ago, and available condos come in at 818, up from 775 at this time last year.

 

Solid activity levels at the lower end of the Saskatoon real estate market drove the weekly median price down to $313,250 to reach its lowest point in a few months while a good showing in the $500,000 plus range, including a sale above one million dollars brought the weekly average price higher to $351,000. Both of the longer-term measures softened. The six-week median price slipped nearly 6K to $351,946 but finished up annually by about two thousand dollars. The four-week median price finished the week at $340,000 which is down 5K from the previous week’s close, and up 6K from a year earlier.

 
It was a near shut-out for sellers hoping to generate multiple offers with at least one of them coming in above their asking price. Only one seller found themselves in such circumstances, as they netted a $2100 bonus from their buyer. Another six bagged a deal at their asking price. Meanwhile, 95 of this week’s buyers stood in for a discount that averaged $11,958.
 

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

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale.Less...

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale. Known locally as an impact leader he supports many organizations that serve our community’s most vulnerable people like the Saskatoon Interval House, the YWCA Crisis Shelter, the Lighthouse, the Friendship Inn and others. He has participated in several physically daunting charitable challenges and helped raise over one million dollars for women's shelters across Canada. Additionally, he’s a charter member of 100 Men Who Give a Damn in Saskatoon, a group of local philanthropists who are driven to bring positive change to those in need within our community. Fisher is a licensed real estate broker and owner of Royal LePage Vidorra, a boutique brokerage known for technology and innovation.

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.

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