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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

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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